Cory is a first-time investor that is looking to buy into a mutual fund. He is considering between three mutual funds (listed below) and has come to you for advice. Please help him with the following: (14 points)

	Mutual Fund 1	Mutual Fund 2	Mutual Fund 3
Assets	$50,250,000	$65,740,000	$84,500,000
Liabilities	$10,000,000	$27,650,000	$17,000,000
Shares Outstanding	1,000,000	1,500,000	5,000,000

What is the NAVPS of Mutual Fund 1 (2 points)

What is the NAVPS of Mutual Fund 2 (2 points)

What is the NAVPS of Mutual Fund 3 (2 points)

If Mutual Fund 1 has no front-end load, Mutual Fund 2 has a front-end load of 1% and Mutual Fund 3 has a front-end load of 3%, with which mutual fund will Cory be able to buy the most units if he has $5,000 to invest (assume partial units can be sold)? (4 points)

Please advise Cory on two advantages and two disadvantages of owning mutual funds. (4 points)