An open-end mutual fund called Prosperity Mutual (PROM) owns 1,000 shares of Visa (V) priced at $200; 2,000 shares of Morgan Stanley (MS) priced at $100; and 4,000 shares of Intel (INTC) priced at $50. PROM has isssued 50,000 of its own shares outstanding. PROM's total liabilities amount to $100,000. What is the NAV of a fund's share? a. $10.00 b. $20.00 c. $12.00 d. $15.00

An open-end mutual fund called Prosperity Mutual (PROM) owns 1,000 shares of Visa (M) priced at $200;2,000 shares of Morgan Stanley (MS) priced at $100; and 4,000 shares of intel (INTC) priced at $50. PROM has isssued 50,000 of its own shares outstanding. PROM's fotal liabilities amount to $100,000. What is the NAV of a fund's share? \begin{tabular}{r} a. $10.00 \\ b. $20.00 \\ \hline c. $12.00 \\ d. $15.00 \\ \hline \end{tabular}