City Street Fund has a portfolio of $470 million and liabilities of $30 million. a. If there are 40 million shares outstanding, what is net asset value? Net asset value 11 b-1. If a large investor redeems 4 million shares, what happens to the portfolio value? (Enter your answer in millions.) Portfolio value decreases to $ million. b-2. If a large investor redeems 4 million shares, what happens to shares outstanding? (Enter your answer in millions.) Shares outstanding decreases to million. b-3. If a large investor redeems 4 million shares, what is net asset value? Net asset value 11