Consider a mutual fund with $800 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 $2.0 million. The stocks included in the fund's portfolio increase in price by 6%, but no securities are sold and there are no capital gains distributions. The fund charges 12b-1 fees of 1.00%, which are deducted from portfolio assets at year-end.

Problem 4-15 Consider a mutual fund with $800 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 $2.0 million. The stocks included in the fund's portfolio increase in price by 6%, but no securities are sold and there are no capital gains distributions. The fund charges 12b-1 fees of 1.00%, which are deducted from portfolio assets at year-end. a. What is the fund's net asset value at the start and end of the year? (Round "End of the year" to 3 decimal places.) Answer is complete and correct. Net Asset Value 80 Start of the year End of the year 84.790 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.) Answer is complete but not entirely correct. Rate of return 6.23 X %