Consider a no-load mutual fund with $200 million in assets and 10 million shares at the start of the year and with $250 million in assets and 11 million shares at the end of the year. During the year investors have received income distributions of $2 per share and capital gain distributions of $.25 per share. Assuming that the fund carries no debt, and that the total expense ratio is 1% (deducted at year's end value), what is the rate of return on the fund? 23.75% 11% 11.20% (-) 24.8% The answer cannot be determined from the information given