Pinnacle Fund had year-end assets of $825,000,000 and liabilities of $25,000,000. If Pinnacle's NAV was $32.18, how many shares must have been held in the fund?

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To find the number of shares held in the fund, we first calculate the net asset value (NAV) by subtracting liabilities from assets, which gives us the equity value. Then, we divide this equity value by the NAV per share.Equity value = Assets - Liabilities = $825,000,000 - $25,000,000 = $800,000,000.Number of shares = Equity value / NAV per share = $800,000,000 / $32.18 ≈ 24,860,161.59.

Pinnacle Fund Had Year-End Assets of $825,000,000 and Liabilities of $25,000,000