dividend income at the end of the year of

$2

million. The stocks included in the fund's\ portfolio increase in price by

8%

, but no securities are sold, and there are no capital\ gains distributions. The fund charges

12b-1

fees of

1%

, which are deducted from\ portfolio assets at year-end. (LO 4-3)\ a. What is the net asset value at the start and end of the year?\ b. What is the rate of return for an investor in the fund?

dividend income at the end of the year of $2 million. The stocks included in the fund's portfolio increase in price by 8%, but no securities are sold, and there are no capital gains distributions. The fund charges 12b1 fees of 1%, which are deducted from portfolio assets at year-end. (LO 4-3) a. What is the net asset value at the start and end of the year? b. What is the rate of return for an investor in the fund