Suppose you invested $1,000 in Fund XYZ. You paid a front-end load of 5%. The find has operation expense of 1% annually and O back-end load. Assume a 10% annual return before expenses (i.e., gross return r). What is the NAV you expect to claim at the end of year 4? $1,341.0 $1.390.9 $1.464.1 $1.411.6