You have $25,000 to invest in a mutual fund. You choose a fund with a 3.75 percent front load, a 2 percent management fee, and a 0.25 percent 12b-1 fee. Assume for simplicity that the management and 126-1 fees are charged on year-end assets. The gross annual return on the funds shares was 15 percent. What was your net annual rate of return to the nearest basis point? 6.12 percent 9.39 percent 12.41 percent 8.20 percent 9.25 percent