Should the answer be none of the above whereby 21.78 - 0.60 = 21.18? Thank you in advance.

The AJL Fund has a front-end load of 5%, a back-end load of 3% and an expense ratio of 1%. NAV of the fund at the beginning of the year ( t=0 ) is $20. During the year, the fund paid out dividend distributions of $0.60 to investors. Assume the stocks in the AJL Fund went up by 10% during the year. What is the NAV at year end (att=1) ? $21.33 $21.78 $22.00 $22.38 None of the above