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1 . Net Asset Value ( LO 2 , CFA 3 ) The World Income Appreciation Fund has current assets with a market value of

1. Net Asset Value (LO2, CFA3) The World Income Appreciation Fund has current assets with a market value of $8.5 billion and has 410 million shares outstanding. What is the net asset value (NAV) for this mutual fund?2. Front-End Loads (LO2) Suppose the mutual fund in Problem 1 has a current market price quotation of $21,89. Is this a load fund? If so, calculate the front-end load.

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