Jeremy Steele had $500$ shares of HQ Fund on January $1.$ Each share had a value of $$46\mathrm{.}35.$ During the year he received $$859$ in dividends and $$316$ in capital gains distributions. John used the funds to purchase new shares at an average price of $$47$ per share. By the end of the year the shares went up to $$69\mathrm{.}85$ per share. What is his percentage rate of return?