QUESTION 5 On February 1st, a mutual fund has the following assets and prices at 4:00 p.m.: Stock Stock 1 Stock 2 Stock 3 Cash Shares owned 10,000 12,000 6,000 Price $25.74 $65.10 $12.04 $48,736.80 n/a (a) Calculate the current net asset value (NAV) for the fund. Assume that 10,000 shares are outstanding for the fund. (Use two decimal points) (4 Marks) (b) Stock 1 announces record earnings and the price of stock 1 jumps to $30.00 in after- market trading. If the fund manager (illegally) allows an investor to buy at the current NAV, what is the gain of such illegal trade if that investor invested $50,000. Please explain your calculation step by step. (Use two decimal points)