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

question 25

Multiple Choice

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

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Definitions:

Markdown

A reduction from the original or list price of a product, often used as a sales strategy to encourage purchases.

Selling Price

The amount of money for which a product or service is sold to the customer.

Rate

A specified measure or quantity of one thing considered in relation to a unit of another thing; often used in the context of interest rates or growth rates.

Markdown

A reduction from the original or standard price of a product or service, typically to encourage sales.