What is the net return to investors

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Reference no: EM131333469

Consider a mutual fund with 171 million dollars in assets at the start of the year, and 21 millon shares outstanding. If the gross annual return last year was 13.4 percent, and the fund charges a total expense ratio of 1.5 percent of end-of-year value, what is the net return to investors?

Enter answer in percents, accurate to two decimal places.

Reference no: EM131333469

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