A Mutual Fund Had NAV Per Share of $37

Multiple Choice

A mutual fund had NAV per share of $37.12 on January 1, 2016.On December 31 of the same year, the fund's rate of return for the year was 11.0%.Income distributions were $2.26, and the fund had capital gain distributions of $1.64.Without considering taxes and transactions costs, what ending NAV would you calculate?

A) $37.93
B) $34.52
C) $37.30
D) $47.25