Suppose Billy has $10,000 to invest and is considering investing in a fund for two years. The fund charges a frontend load of 1.50 percent, which is deducted from the original funds invested. In addition, the fund charges an annual operating expense ratio of 0.75 percent, which is charged on the average asset value invested in the fund and is recorded at the end of each year. Billy expects the fund's gross rate of return will be 10 percent per year. What will Billy's return be in the first year? percent (Round your final answer to 2 decimal places.) What will Billy's annual return be over the two-year investment period? percent (Round your final answer to 2 decimal places.)