1.) (10 points) The composition of a specific mutual fund portfolio is as follows: Stock A B Shares 400,000 200,000 700,000 Price $30 $25 $15 The fund has not borrowed any money, but has accrued management fees over the last year totaling $700,000. There are currently 4 million shares in the fund. A.) What is the net asset value of the fund? B.) If during the year the fund manager sells all 200,000 shares of stock B (at $25) and then replaces them with 500,000 shares of stock D at $10 per share, what is the portfolio turnover rate of the fund for the year