City Street Fund has a portfolio of $462 million and liabilities of $12 million. Required: a. If there are 50 million shares outstanding, what is the net asset value? Net asset value $ 9 Per share b-1. If a large investor redeems 1 million shares, what happens to the portfolio value? (Enter your answer in dollars not in millions.) Portfolio value decreases to b-2. If a large investor redeems 1 million shares, what happens to shares outstanding? (Enter your answer in dollars not in millions.) Shares outstanding decreases to b-3. If a large investor redeems 1 million shares, what is the net asset value? Net asset value $ 9 Per share