You pay $21,900 to the Laramie Fund, which has a NAV of $16 per share at the beginning of the year. The fund deducted a front-end load of 5%. The securities in the fund increased in value by 10% during the year. The fund's expense ratio is 1.4% and is deducted from year-end asset values. What is your rate of return on the fund if you sell your shares at the end of the year?

	9.97%
	5.95%
	3.04%
	7.43%