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Investors' Choice Fund had NAV per share of $37.25 on January 1, 2009. On December 31 of the same year the fund's rate of return

Investors' Choice Fund had NAV per share of $37.25 on January 1, 2009. On December 31 of the same year the fund's rate of return for the year was 17.3%. Income distributions were $1.14 and the fund had capital gain distributions of $1.35. Without considering taxes andtransactions costs, what ending NAV would you calculate for Investors' Choice? Select one: a. $33.88 b. $46.62 c. $43.69 d. $41.20 e. $42.03

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