Calculate the NAV of the following funds assuming 35000 shares are outstanding. Calculate the percentage change in the NAV of the fund on April 29th 2022.

Stock	Shares owned	Price
PPYL	3000	$117.65
TWTR	5000	$50.98
PG	9000	$154.62
NVDA	6000	$259.31
RTX	2000	$98.81

Besides the underlying securities listed above, the fund shows on the Balance Sheet:

Cash----------$155,000

Liabilities-------$18,500

An investor comes the day after computing the above NAV and invests quarter million USD ($250,000) in the fund. Assume no fees or expenses. The money manager buys 2,000 shares of PayPal and 1,500 of Twitter.

(a) Will the NAV increase or decrease? Why?

(b) Calculate the return on the investors shares. How many did he buy at $250,000?