Consider a no-load mutual fund with $200M in assets and 10M shares outstanding at the start of the year. By the end of the year, the fund has $250M in assets and 11M shares outstanding. During the year, investors received $2/share in income distributions and $0.25/share in capital gains distributions. Assuming that the fund carries no debt and that the total expense ratio is 1% of the year-end value, what is the rate of return on the fund? A. 11.19% B. 23.75% C. 24.64% D. The answer cannot be determined from the information given