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Locadidi Fund started the year with a NAV of $28.38. By the end of the year, its NAV had risen to $30.32. The fund paid

  1. Locadidi Fund started the year with a NAV of $28.38. By the end of the year, its NAV had risen to $30.32. The fund paid year-end distributions of income and capital gains of $1.25. What was the pretax return to an investor in the fund?

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