Consider a no-load mutual fund with $270 million In assets and 15 million shares at the start of the year and with $320 million In assets and 16 million shares at the end of the year. During the year Investors have received income distributions of $3 per share and capital gain distributions of $.25 per share. Assuming that the fund carries no debt, and that the total expense ratio Is 2%, what is the rate of return on the fund? 24.74% 26.94% The answer cannot be determined from the information given. 19.85 %