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The Profitability Fund had NAV per share of $23.66 on January 1, 2009. On December 31...

The Profitability Fund had NAV per share of $23.66 on January 1, 2009. On December 31 of the same year the fund's NAV was $24.27. Income distributions were $1.00 and the fund had capital gain distributions of $1.19. Without considering taxes and transactions costs, what rate of return did an investor receive on the Profitability fund last year?

Select one:

a. 6.68%

b. 6.51%

c. 2.58%

d. 7.61%

e. 11.83%

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Answer #1

e. 11.83%

Rate of return = ($24.27 - $23.66 + $1.00 + $1.19) / $23.66

Rate of return = 0.1183 or 11.83%

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