On January 1, a mutual fund has the following assets and prices at 4:00 PM.
|
Stock |
Shares owned |
Price |
|
1 |
1,000 |
$1.97 |
|
2 |
5,000 |
$48.26 |
|
3 |
1,000 |
$26.44 |
|
4 |
10,000 |
$67.49 |
|
5 |
3,000 |
$2.59 |
Calculate the net asset value (NAV) for the fund.
Assume that 8,000 shares are outstanding for the fund.