(4) The Winning Fund is a mutual fund that holds long-term positions in a small number of non-dividend-paying stocks. Its holdings and other information at the end of two recent years are given in the table below: At the end of both years, Winning Fund had 8,000,000 shares outstanding. a. Calculate the net asset value (NAV) for a share of the Winning Fund at the end of Year 1, being sure to include the cash position in the net total portfolio value. | b. Immediately after calculating its Year 1 NAV, Winning Fund sold its position in Stock L and purchased its position in Stock M (both transactions were done at Year 1 prices). Calculate the Year 2 NAV for Winning Fund, and compute the growth rate in the fund share value on a percentage basis. c. At the end of Year 2, how many fund shares of the Winning Fund could the manager redeem without having to liquidate her stock positions (that is, using only the cash account)? Based on your calculation, fill in the table below for part a, b and c. Below the table, also make sure you write/type the final steps including the formulas to find the NAV and growth rate(for part a and b) and number of shares could the manager redeem (for part c) Stock Year 1 Shares (000) Price($) 120 Year 2 _{$000) Shares (000) Price($) 120 ($000) A 45.25 48.75 IB 250 25.38 250 24.75 C 325 14.5 325 12.38 D 150 87.13 150 98.5 E 155 56.5 155 62.5 F 195 63 195 77 G 220 32 220 38.63 255 15.25 2551 8.75 II 550 550 27.45 9.63 71.25 190 190 75.38 IK 87 42.13 87 49.63 IL 137 19.88 0 27.88 M 0 150l 19.75 2,873 Cash ($ 000) N/A Total ($ 000) N/A Expense ($ 000) N/A 17.75 N/A N/A N/A 3,542N/A N/A 730N/A N/A N/A N/A 830