A Mutual Fund Holds Three Stocks

Multiple Choice

A mutual fund holds three stocks. The number of shares of each stock is 12,000, 18,000, and 25,000, at a price of $64, $56, and $32, respectively. If the fund has liabilities of $160,000 and 115,000 shares outstanding, what is the NAV per share?

A) $22.40
B) $20.84
C) $23.16
D) $21.75
E) $21.01