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One characteristic of the 1 2 ( b ) - 1 charges is that they are payable _ _ _ _ _ . a .

One characteristic of the 12(b)-1 charges is that they are payable _____.
a. only in years that the mutual fund shows an increase in net asset value
b. each year, regardless of the performance of the mutual fund
c. only during the first year the fund is owned
d. only when shares in the fund are sold

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