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A mutual fund charges 6% front-end load and 3% operating and 12b-1 expenses. At the beginning...

A mutual fund charges 6% front-end load and 3% operating and 12b-1 expenses. At the beginning of the year, the fund has $200 million assets under management and 10 million shares outstanding. During the year the value of assets held by the fund increases by 10% and the fund receives dividends of $2 million. What is the fund's NAV at the end of the year? (The number of mutual fund shares outstanding is still 10 million at the end of the year.)

$20.06

$21.54

$20

$21.34

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jeff jeffy answered 8 months ago
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