Stock Shares Price 500,000 $25 200,000 45 600,000 55 400,000 65 The fund has not borrowed any funds, but its accrued management fee with the portfolio manager currently totals $75,000. There are 2.5 million shares outstanding. The fund paid year-end distributions of income and capital gains of $2.25. The fund currently sells for $36.25 per share. It is sold with a front-end load of 6%. Question 11. What is the net asset value of the fund? A. $30.09 B. $32.17 C. $36.18 Question 12: If the fund sells for $36.25 per share, what is its premium or discount as a percent of NAV? A. Discount 10.83% B. Premium 11.26% C. Premium 11.6 D. Discount 10.95% Question 13. What is the offering price with load? A. $38.56 B. $36.25 C. $34.22 D. $32.17 Question 14. What would have been the NAV rate of return to an investor who held the same securities as the fund manager during the year? A. Rate of return would be 17.46% B. Rate of return would be 18.69% C. Rate of return would be 19.68%