The Emerging Growth and Equity Fund is a "low-load" fund. The current offer price quotation for this mutual fund is $19.95, and the front-end load is 155 percent a. What is the NAV (Round your answer to 2 decimal places.) Net asset value b. If there are 197 million shares outstanding. what is the current market value of assets owned by the fund? (Do not round intermediate calculations. Round your answer to the nearest whole number.) Market value of assets Suppose you're evaluating three alternative MMMF investments. The first fund buys a diversified portfolio of municipal securities from across the country and yields 3.5 percent. The second fund buys only taxable, short-term commercial paper and yields 5.5 percent The third fund specializes in the municipal debt from the state of New Jersey and yields 32 percent. You are a New Jersey resident, your federal tax bracket is 35 percent, and your state tax bracket is 8 percent (Assume your state taxes do not affect your federal taxable income) 2. Calculate the aftertax yield for each of the alternatives. (Do not round intermediate calculations. Enter your answers as a percent rounded to 2 decimal places.) Aftertax Yield Municipal Fund Taxable Fund New Jersey Municipal Fund % b. Which of these three MMMEs offers you the highest aftertax yield? Taxable Fund Municipal Fund New Jersey Fund