Consider a no$-$load mutual fund with $$200$ million in assets and $10$ million shares at the start of the year and with $$250$ million in assets and $11$ million shares at the end of the year. During the year investors have received income distributions of $$2$ per share and capital gain distributions of $$\mathrm{.}25$ per share. Assuming that the fund carries no debt, and that the total expense ratio is $1\%,$ what is the rate of return on the fund?

$11\mathrm{.}19\%$

$23\mathrm{.}75\%$

The answer cannot be determined from the information given.

$24\mathrm{.}64\%$