Back in April of 2019, you were so excited to buy some shares in a mutual fund. The shares were priced at $20 each and the fund charged a front-end load of 5.75%. Over the course of the past year, the securities in the fund performed really well and earned an 11% return. Management of the mutual fund charges an annual expense fee of 1.25%.

a) What is your rate of return if you sell shares today?

b) If the fund is an open-ended fund, how would you go about selling your shares?