City Street Fund has a portfolio of $$432$ million and liabilities of $$12$ million.

Required:

a$.$ If there are $28$ million shares outstanding, what is the net asset value?

b$-1.$ If a large investor redeems $2$ million shares, what happens to the portfolio value? $($Enter your answer in dollars not in millions.$)$

$\backslash$table$[[$Portfolio value,decreases,to$,$$$,402**$