Tim invested in a growth equity mutual fund that paid him $1.20 in dividends last year. The fund also distributed $4.50 in capital gains. If the NAV of the mutual fund increased from $26.75 to $32.50 over the year, what is Tim’s rate of return?
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(Final NAV + Distributions - Original NAV) / (Original NAV) X 100
[(32.50 +4.50 - 1.20) / (1.20)] X 100
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