Question

Assume that you purchased shares of High Flying mutual fund at a net asset value of $12.50 per share. During the year, you received dividend income distributions of $0.78 per share and capital gains distributions of $1.67 per share. At the end of the year, the shares had a net asset value of $13.87 per share. What was your rate of return on this investment?

A. 29.43%

B. 30.56%

C. 31.19%

D. 32.44%

E. 29.18%

Answer

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