At the beginning of the year, you invested $7,500 in a no-load mutual fund with a NAV of $30.00. At the end of the year, the fund distributed $1.05 per share in short-term earnings and $3.00 per share in long-term earnings. The end of year NAV was $24.75. What was your annual rate of return on this investment?

Group of answer choices

-4.00 percent

16.90 percent

10.80 percent

14.20 percent

-1.96 percent

2.A tax exempt money market fund has an annual return of 3.76 percent. What is your equivalent taxable rate if you are in a 28 percent marginal tax bracket?

6.81 percent

3.15 percent

3.38 percent

6.11 percent

5.22 percent