b. the answer is not 7.48%

Consider a mutual fund with $e million in assets at the start of the year and 10 million shares outstanding. The fund Invests in a portfolio of stocks that provides dividend income at the end of the year of $3.5 million. The stocks included in the fund's portfolio increase in price by 8%, but no securities are sold and there are no capital gains distributions. The fund charges 126-1 fees of 1.00%, which are deducted from portfolio assets at year-end, a. What is the net asset value at the start and end of the year? (Round your answers to 2 decimal places.) Start of the year End of the year Net Asset Value $ 82.00 $ 66 29 b. What is the rate of return for an investor in the fund? (Round your intermediate calculations to 3 decimal places and final answer to 2 decimal places.) Rate of return