Question $15$

$3$ pts

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 $$2$ per share and capital gain distributions of $$0\mathrm{.}55$ 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?

$22\mathrm{.}44\%$

$25\mathrm{.}25\%$

$23\mathrm{.}05\%$

The answer cannot be determined from the information given.