your mutual fund's annual return is 8% it has a management expense ratio (mer) of 2.5% with a front-end load of 2% which statement is correct?

8% annual return is reported before deducting the 2.5% MER

8% annual return is reported before the 2% front end load

8% annual return is reported after deducting the 2.5% MER

8% annual return is reported after deducting the 2% front end load