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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? A. 21,619,346.92 B. 22,930,546.28 C. 24,860,161.59 D. 25,693,645.25

Respuesta :

TomShelby

Answer:

C. 24,860,161.59

Explanation:

Subtracting assets from liabilities we solve for equity:

825,000,000 - 25,000,000 = 800,000,000

Now, we divide this among the value per share to get the shares outstanding:

800,000,000 / 32.18 = 24,860,161.59

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