Mutual Fund Rate of Return:

Consider a no$-$load mutual fund with $$470$ million in assets and $13$ million shares at the start

of the year, and $$525$ million in assets and $14$ million shares at the end of the year. During the

year investors have received income $($dividends$/$interest$)$ distributions of $$1\mathrm{.}25$ per share, and

capital gains distributions of $$3\mathrm{.}80$ per share. Assume that the fund carries no debt.

Refer to the "Mutual Fund Rate of Return" information. What is the NAV at the END of the

year?

$$39\mathrm{.}38$

$$41\mathrm{.}25$

$$30\mathrm{.}00$

$$37\mathrm{.}50$

$$28\mathrm{.}13$