Question
A mutual fund has total assets of $80 million at the first day in 2020, and 10 million shares outstanding. The mutual fund earns dividend
A mutual fund has total assets of $80 million at the first day in 2020, and 10 million shares outstanding. The mutual fund earns dividend incomes as $1 million at the end of the day in 2020. At the last day in 2020, the fund has portfolio return of 5%. Assuming there are no securities sold and no fees as well as no capital gains distributions, 1. What is the net asset value at the first day in 2020? (Unit: $) (Do not write a dollar unit ($) on your answer.) 2. What is the rate of return of this fund? (Unit: %)
( Do not write a percentage unit (%) on your answer. Do not round intermediate calculations. Round your answer to 2 decimal places.)
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