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Question: One year ago, Grant purchased 208 shares of a mutual fund which has a front-end load of 2.5 percent. The NAV at the time of purchase was $55.07. Today, the NAV, including all reinvested dividends, is $61.12 and the total expenses of the fund for the year were 1.74 percent. What is Grant's rate of return for the year? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.

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