Last year at this time, Sharon Ring bought 100 units of a managed fund when the price was $7.50 per unit and the NAV was $8 per unit. Over the past year the fund had
income distributions of 90 cents per share and a capital gains distribution of 80 cents per share. What would be Sharon's holding period return assuming that she exits
the investment at the current offer price of $8.50 and a NAV $8.70 per unit?