Problem $4-2$ Front$-$End Loads $($LO$2)$

The World Income Appreciation Fund has current assets with a market value of $$12\mathrm{.}2$ billion, $290$ million shares outstanding, and a current market price quotation of $$44\mathrm{.}05.$ Calculate the front$-$end load.

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to $2$ decimal places.

Front$-$end load