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Without considering taxes and transactions costs, what rate of return did an investor receive on the fund last year?
Without considering taxes and transactions costs, what rate of return did an investor receive on the fund last year? A) 11.26% B) 10.54% C) 7.97% D) 8.26% E) 9.63% Answer: E Difficulty: Moderate Rationale: R = ($19.14 - 19.00 + .57 + 1.12) / $19.00 = 9.63% 38. A mutual fund had NAV per share of $26.25 on January 1, 2003. On December 31 of the same year the fund"s rate of return for the year was 16.4%. Income distributions were $1.27 and the fund had capital gain distributions of $1.85. Without considering taxes and transactions costs, what ending NAV would you calculate? A) $27.44 B) $33.88 C) $24.69 D) $42.03 E) $16.62 Answer: A Difficulty: Moderate Rationale: .164 = (P - $26.25 + 1.27 + 1.85) / $26.25; P = $27.435 39. A mutual fund had NAV per share of $16.75 on January 1, 2003. On December 31 of the same year the fund"s rate of return for the year was 26.6%. Income distributions were $1.79 and the fund had capital gain distributions of $2.80. Without considering taxes and tran
