Consider a Hedge Fund with $400 Million in Assets,60 Million

Consider a hedge fund with $400 million in assets,60 million in debt,and 16 million shares at the start of the year; and $500 million in assets,40 million in debt,and 20 million shares at the end of the year.During the year investors have received an income dividend of $0.75 per share.Assuming that the fund carries no debt,and that the total expense ratio is 2.75%,what is the rate of return on the fund?

A) 6.45%
B) 8.52%
C) 8.95%
D) 9.46%

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