A mutual fund has 400 shares of General Electric, currently trading at $10, and 500 shares of Microsoft, Incorporated, currently trading at $35. The fund has 1,200 shares outstanding. a. What is the NAV of the fund? (Round your answer to 2 decimal places. (e.g., 32.16)) b. If investors expect the price of General Electric to increase to $20 and the price of Microsoft to decline to $14 by the end of the year, what is the expected NAV at the end of the year? (Round your answer to 2 decimal places. (e.g., 32.16)) c. Assume that the price of General Electric shares is realized at $20. What is the maximum price to which Microsoft can decline and still maintain the NAV as estimated in (a)? (Do not round intermediate calculations. Enter your answer to the nearest whole number.)