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A mutual fund has $200 million in assets at the beginning of the year and 1 million shares outstanding throughout the year. Throughout the year

image text in transcribed A mutual fund has $200 million in assets at the beginning of the year and 1 million shares outstanding throughout the year. Throughout the year assets grow at 16%. The fund imposes a 12b 1 fee on all shares equal to 1%. The fee is imposed on year-end asset values. If there are no distributions, what is the end-of-year NAV for the fund? $230 $200 $350 $232

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