Charlotte Smidt bought? 2,000 shares of the balanced? no-load LaJolla Fund exactly 1 year and 2 days ago for a NAV of $8.06 per share. During the? year, the fund distributed investment income dividends of $0.32 per share and capital gains dividends of $0.37 per share. At the end of the? year, Charlotte, who is in the 35% ordinary tax bracket? (federal and state? combined) and pays a 15% capital gains rate on dividends and on capital gains for holding periods longer than 12? months, realized $9.11 per share on the sale of all? 2,000 shares.

Pretax HPR

After tax HPR