Compute the NAV for the following three mutual funds:

a. Fund A is a portfolio worth $12 million that has liabilities of

$2 million and 500,000 shares outstanding.

b. Fund B is a portfolio worth $33 million with liabilities of $6 million and outstanding shares of 850,000.

c. Fund C is a portfolio worth $1.6 billion that has liabilities of

$22 million and outstanding shares of 12.8 million.