Answer:
$9.79
Explanation:
The computation of the net asset value of the fund is shown below:
Net asset value of the fund = Equity ÷ Total outstanding shares
where,
Equity
= Total assets - total liabilities
where,
Total assets equal to
= 220,000 shares × $35 + 320,000 shares × $40 + 420,000 shares × $15 + 620,000 shares × $20
= $7,700,000 + $12,800,000 + $6,300,000 + $12,400,000
= $39,200,000
And, liabilities is $25,000
So, the net asset value of the fund equal to
= ($39,200,000 - $25,000) ÷ (4,000,000 shares)
= $9.79
