On January 1 a mutual fund has the following assets and prices at 4:00 PM
Stock Shares owned Price
1 1,000 $1.97
2 5,000 $48.26
3 1,000 $26.44
4 10,000 $67.49
5 3,000 $2.59
Calculate the net asset value (NAV) for the fund. Assume that 8,000 shares are outstanding for the fund