eBook Chapter 13 Financial Planning Exercise 9 Calculating approximate yield on mutual fund About a yoar ago, Ramon Navarrete bought som" s ares in the Saphire Lake Mutual Fund. He bought th. und at $24.50 a share, and it now trades at S2.00. Last year the und pad dividends af 4a cents a share and had capital gains distributions of $1.83 a share. a. Using the approximate yield formula, what rate of return did Ramon earn on his investment? Round the answer to two decimal places b. Repeat the calculation using a handheld inancial 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