Question: Dan Herman purchases the Ivy Tower New Horizon Fund at
Dan Herman purchases the Ivy Tower New Horizon Fund at a net asset value of $11.25. During the year, he receives $0.50 in dividends and $0.14 in capital gains distributions. At the end of the year, the fund’s price is $10.90. What is the total percentage return or loss on the beginning net asset value? (Round to two places to the right of the decimal point.)
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