The composition of the Fingroup Fund portfolio is as follows:
Stock
Shares
Price
A
250,000
$ 35
B
350,000
40
C
450,000
15
D
650,000
20
Required:
The fund has not borrowed any funds, but its'accrued management fee with the portfolio manager currently totals $40,000. There are
4 million shares outstanding. What is the net asset value of the fund? (Round your answer to 2 decimal places.)
Answer is complete but not entirely correct.
Net asset value
30.59 Per share