At the begining of the year, Lord Nelson invested US $1.0 million in the prestigeous Nimitz Asset Management (NAM) Balanced fund. NAM charges a 5% upfront load and an annual expense ratio of 1.20%. If NAM's gross return amounted to 12.33%, estimate what was Lord Nelson's net of fees return in 2022 (rounding to the second decimal place). Mark the CORRECT answer a. 5.47% b. 5.50% C. 5.43% d. 11.06%