One Year Ago, You Purchased 421 Shares of a Mutual

question 58

Multiple Choice

One year ago, you purchased 421 shares of a mutual fund when both the offering price and the NAV were $10.80 a share. Today, the NAV is $10.64 after today's distribution of $1.48 per share in short-term gains. There is no long-term gain distribution. What is your rate of return?

• A)10.99%
• B)12.04%
• C)12.22%
• D)14.29%
• E)14.41%

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