a$.$ What is the NAV of this fund? $($Round your answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$

b$.$ Assume that some of the shareholders decide to cash in their shares of the fund. How many shares,

at its current NAV, can the fund take back without resorting to a sale of assets?

c$-1.$ As a result of anticipated heavy withdrawals, it sells $20,000$ shares of IBM stock currently valued at

$$40.$ Unfortunately, it receives only $$36$ per share. What is the net asset value after the sale? $($Round

your answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$

c$-2.$ What are the fund's cash assets after the sale? $($Enter your answers in millions rounded to $2$

decimal places. $($e$.$g$.,32\mathrm{.}16))$

d$-1.$ Assume after the sale of IBM shares, $260,000$ shares are sold back to the fund. What is the current

NAV? $($Do not round intermediate calculations. Round your answer to $2$ decimal places. $($e$.$g$.,32\mathrm{.}16))$

$d-2.$ Is there a need to sell more stocks to meet this redemption?