Question: Corrupt Fund started the year with a net asset value of $13.80. By year-end, its NAV equaled $13.40. The fund paid year-end distributions of income

Corrupt Fund started the year with a net asset value of $13.80. By year-end, its NAV equaled $13.40. The fund paid year-end distributions of income and capital gains of $1.30. What was the (pretax) rate of return to an investor in the fund? (Round your answer to 2 decimal places.)

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