A Mutual Fund Had NAV Per Share of $23

A mutual fund had NAV per share of $23.00 on January 1, 2012.On December 31 of the same year the fund's NAV was $23.15.Income distributions were $0.63 and the fund had capital gain distributions of $1.26.Without considering taxes and transactions costs, what rate of return did an investor receive on the fund last year

A) 11.26%
B) 10.54%
C) 8.87%
D) 8.26%
E) 9.63%