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Imagine you had a portfolio of stocks and bonds with an initial value of $ 2 0 0 , 0 0 0 . The portfolio

Imagine you had a portfolio of stocks and bonds with an initial value of $200,000. The portfolio has grown to $220,000 in one year before any annual taxes have been paid and there have been no contributions or withdrawals. Interest of $8,000 and dividends of $2,000 were reinvested into the portfolio. During the year you had $7,000 of realized long-term capital gains which you have re-invested back into the portfolio. Assuming that dividends and capital gains both taxed at 15% while the interest is taxed at 35%, what is the annual return after realized taxes (round to the nearest integer)?
6%
7%
8%
9%
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