Multiple Mutual Funds Had Year-End Assets of $457,000,000 and Liabilities

question 48

Multiple Choice

Multiple Mutual Funds had year-end assets of $457,000,000 and liabilities of $17,000,000. There were 24,300,000 shares in the fund at year end. What was Multiple Mutual's net asset value?

• A) $18.11
• B) $18.81
• C) $69.96
• D) $7.00
• E) $181.07

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Definitions:

Depreciation Tax Shield

The reduction in taxable income that results from the allowance for depreciation expenses, lowering tax liability.

CCA Rate

Capital Cost Allowance rate, used for tax purposes to determine the yearly depreciation of tangible property.

Maintenance

The process of preserving or keeping equipment, systems, or facilities in effective operating condition through routine checks and repairs.

Range Cylinder

Refers to a component in hydraulic or pneumatic systems that determines the range of movement or force exerted by the system, often by specifying the maximum extendable length of the cylinder.