iii. The Yachtsman Fund had NAV per share of GHS $36\mathrm{.}12$ on January $1,$

On December $31$ of the same year the fund's NAV was GHS

$39\mathrm{.}71.$ Income distributions were GHS $0\mathrm{.}64$ and the fund had capital gain

distributions of GHS $1\mathrm{.}13.$ Without considering taxes and transaction

costs, what rate of return did an investor receive on the Yachtsman Fund

last year?