A Mutual Fund Had NAV Per Share of $36

Multiple Choice

A mutual fund had NAV per share of $36.15 on January 1, 2016.On December 31 of the same year, the fund's rate of return for the year was 14.0%.Income distributions were $1.16, and the fund had capital gain distributions of $2.12.Without considering taxes and transactions costs, what ending NAV would you calculate?

A) $37.93
B) $34.52
C) $44.69
D) $47.25