Question: Corporate Fund started the year with a net asset value of $ 1 2 . 7 0 . By year - end, its NAV equaled

Corporate Fund started the year with a net asset value of $12.70. By year-end, its NAV equaled $12.20. The fund paid year-end distributions of income and capital gains of $1.30.
Required:
What was the rate of return to an investor in the fund? (Round your answer to 2 decimal places.)

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