Consider a no$-$load mutual fund with $$400$ million in assets and $10$ million shares at the start of the year and with $$500$ million in assets and $12$ million shares at the end of the year. During the year, investors received income distributions of $$2$ per share and capital gain distributions of $$0\mathrm{.}75$ per share. Assume that the fund carries no debt and that the fund has a total expense ratio of $1\%$ that is deducted from year$-$end assets. Compute the rate of return on the fund.