4. you pay $21,600 to the laramie fund, which has a nav of $18 per share at the beginning of the year. the fund deducted a front-end load of 4%. the securities in the fund increased in value by 10% during the year. the fund's expense ratio is 2% and is deducted from year-end asset values. what is your rate of return on the fund if you sell your shares at the end of the year? a. 4.35% b. 4.23% c. 3.48% d. 5.63%