17. You have $25,000 to invest in a mutual fund. You choose a fund with a 21.25% management fee and a 0.5% 126-1 fee. Assume that the management and 126-1 fees are charged on year end assets for simplicity. The gross annual return on the fund's shares was 17.5% for five years. How much would your shares in the fund be worth at the end of the five years? (6 points) 18. If you invested $20,000 in a closed-end fund that invested in stocks that matched the market return of 12 percent for 20 years, levied only a management fee of 15 percent of net assets per year, and sold at a 10 percent discount to its NAV both when you bought it and when you sold it 20 years later (assuming no taxes, all income was reinvested, and that all fund charges were levied at the end of each year) a What's the fund's NAV at the end of 20 years? (4 points) b. Assuming it is a closed-end fund and you will expect to sell the funds at a 10% discount to its NAV, what's the value you will receive in dollars after the fund's liquidation? (3 points)