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City Street Fund has a portfolio of $473 million and liabilities of $23 million. Required: a. If there are 50 million shares outstanding, what is

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City Street Fund has a portfolio of $473 million and liabilities of $23 million. Required: a. If there are 50 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.) b-2. If a large investor redeems 2 million shares, what happens to shares outstanding? (Enter your answer in dollars not in millions.)

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