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?

Question

Quizplus · Accepted Answer

The Net Asset Value (NAV) per share can be calculated by dividing the total assets by the total number of shares. 
NAV = (Total assets - Total liabilities) / Number of shares 
$32.18 = ($825,000,000 - $25,000,000) / X 
X = ($825,000,000 - $25,000,000) / $32.18 
X = 24,860,161.59 shares 
Therefore, the best choice is C.

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