1. One year ago, you invested $50,000 in the Triple Tops Equity Income Fund and signed up for the automatic reinvestment of any income received. At the time the fund had a NAV $35. Today, the NAV is $38. During the year, it paid dividends of 2.10 per share and distributed capital gains of $.40 per share.
   1. If new shares were purchased at an average price of $40, what was your return during the year?

2. What would your return have been had you not reinvested your income?