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Part $1$

You have a $$$$105$ comma $000$ portfolio comprising $16$ stocks. You trade each stock five times this year and each time you$$ trade, you pay about $$$$30$ in commissions and spread. You have no special$$ knowledge, so you earn only the average market return of $12\mathrm{.}68\%$ on your investments. How much lower will your total return be because of your$$ trades?

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Part $1$

As a result of your$$ trades, your total return will be

$$

enter your response here$\%$ lower. $($Round to two decimal$$ places.$)$