On December 31, a mutual fund has the following assets and prices at 4 PM EST. Please calculate the NAV assuming 8,000 shares outstanding. The next two questions after this one will also use this information.

Stock Shares Owned Price

1 1,000 $1.97

2 5,000 $48.26

3 1,000 $26.44

4 10,000 $67.49

5 3,000 $2.59

2. An investor sends the fund a check for $50,000. What is the new number of shares outstanding?

3. What is the resulting price per share after the new shares are issued?