A Mutual Fund Had Year-End Assets of $700,000,000 and Liabilities

Multiple Choice

A mutual fund had year-end assets of $700,000,000 and liabilities of $7,000,000. There were 40,150,000 shares in the fund at year end. What was the mutual fund's net asset value?

A) $9.63
B) $57.71
C) $16.42
D) $17.87
E) $17.26