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Consider a no-load mutual fund with $271 million in assets, 17 million shares and $31 million in debt at the start of the year. It

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Consider a no-load mutual fund with $271 million in assets, 17 million shares and $31 million in debt at the start of the year. It invests in a portfolio that orovides no income but increases price by 10% at the end of the year. During the year investors have received income distributions of $.50 per share and capital gain distributions of $.30 per share. If the total expense ratio is 3%, what is the rate of return on the fund? SET YOUR CALCULATOR TO 4 DECIMAL PLACES AND ROUND YOUR ANSWER TO TWO DECIMAL PLACES AT THE END. ENTER JUST THE NUMBER WITH NO OTHER SIGN. FOR EXAMPLE IF YOUR ANSWER IS 42.5678 ENTER AS 42.57 ONLY

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