Question
An open-end mutual fund has the following stocks: Stock Shares Stock Price A 16,000 $ 78 B 31,000 30 C 9,000 55 D 71,000 14
An open-end mutual fund has the following stocks:
| Stock | Shares | Stock Price | ||
| A | 16,000 | $ | 78 | |
| B | 31,000 | 30 | ||
| C | 9,000 | 55 | ||
| D | 71,000 | 14 | ||
The fund has 49,000 shares and liabilities of $147,000. Assume the fund is sold with a front-end load of 5.5 percent. What is the offering price of the fund? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Offering price:
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