Chapter 13.5, Problem 46E

(a)

To determine

To calculate: The net asset value if the amount invested is $83,250, total fund asset is $1.48 billion, total fund liability is $84 million and the outstanding shares are 112 million.

(b)

To determine

To calculate: The number of shares purchased if the amount invested is $83,250, total fund asset is $1.48 billion, total fund liability is $84 million and the outstanding shares are 112 million.