Chapter 13 Financial Planning Exercise 7 Calculating approximate yield on mutual fund About a year ago, Elliot Cox bought some shares in the Axis Fund. He bought the fund at $25.80 a share, and it now trades at $26.30. Last year, the fund pad dividends of 51 cents a share and had capital gains distributions of $1.03 a share. a. Using the approximate yield Formule, what rate of return id erot earn on his investment? Round the answer to two decimal places. d. Repeat the calculation using a financial calculator Round the answer to two decimal places. % c Would he have made a 20% rate of return if the stock had risen to $30 a share? Select