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Required: You purchased 1,200 shares of the New Fund at a price of $20 per share at the beginning of the year, You paid a

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Required: You purchased 1,200 shares of the New Fund at a price of $20 per share at the beginning of the year, You paid a front-end load of 4%. The securities in which the fund invests increase in value by 10% during the year. The fund's expense ratio is 1.4%. What is your rate of return on the fund if you sell your shares at the end of the year? (Do not round intermediate calculations. Round your answer to 2 . decimal places.)

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