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.