b. Nickel Land, an open-end mutual fund, today has 5,000,000 shares of Alum Lab currently priced at $30;1,100,000 shares of Brass Co currently priced at $72; 350,000 shares of Copper Ore currently priced at $55 and 160,000 shares of Mercury Stone currently priced at $34. Nickel Land fund, with no external debt, has 2,000,000 shares outstanding held by investors. i. Calculate the net asset value (NAV) of a share in Nickel Land fund. ii. In the next day, Wednesday, Alum Lab's shares increase to $35; Brass Co's shares increase to $78; Copper Ore's shares decrease to $50 and Mercury Stone's shares decrease to $32. Find the Wednesday's net asset value (NAV) of a share in Nickel Land fund given that the number of Nickle Land fund's outstanding shares remains unchanged? iii. Assume that today 6,000 new investors each buy one share of the Nickel Land fund at the NAV that you have calculated for (b)(i). The fund manager of Nickel Land decides to use these additional funds to buy additional shares in Alum Lab. Given the same changes in share prices of Alum Lab, Brass Co, Copper Field and Mercury Stone in b(ii), what is the Wednesday's net asset value (NAV) of a share in Nickel Land fund