9. Calculate the unit price of the Masterproc Balanced Fund (Masterproc ) using the following information extracted from its latest financial statements including the detail that it had 63 million units on issue at the end of the latest financial year: (10 Marks)

	Book Value	Market Value
Details	$ million	$ million
Cash and deposits	25	28
Bonds	66	59
Equities	135	296
Property	100	112
Trade Creditors	45	45
Mortgage Loans	167	167

10.

Given the following information, calculate the net tangible asset (NTA) price per unit of the Futuristic Office Property Fund which is an A-REIT. (5 Marks) Market value of property held by the fund is $80,000,000; the mortgage owed to lenders is $50,000,000; and the number of units issued to the public is 20,000,000.

The market price of the fund is currently trading at a discount of 10% to the answer derived in part a) of this question. Calculate this market price and discuss why a price different to the NTA may occur for an A-REIT. (5 Marks)