please answer with explanation

Inv. One Mutual Funds A mutual fund holds the following stocks: Shares Price Stock $40 $20 $25 300 400 C 600 The fund has $7,000 in cash. The fund has not borrowed any funds, but its accrued management fee with the portfolio manager currently totals $500. There are 4,000 shares outstanding. Find the net asset value of the fund. 2. At the beginning of the year, the composition of a mutual fund is as follows: Stock Shares Price $ 8 $12 500 A 400 B 300 $20 C Prices do not change throughout the year. During the year the portfolio manager sells all the holdings of stock B and replaces it with 300 shares of stock D at $16 per share. The portfolio manager also sells 200 shares of stock C to meet customer withdrawals. Find the portfolio turnover rate. AB