Last year, Sue purchased a closed-end mutual fund that was trading at $42 and had an NAV of $38. Sue sold the fund today when the NAV is $44 and the market price is $43. The fund paid $1 in dividends over the past year. What is the Sue's holding period return?

A) 4.8%

B) 7.1%

C) 11.6%

D) 18.4%