City Street Fund has a portfolio of $432 million and liabilities of $12 million. Required: a. If there are 28 million shares outstanding, what is the net asset value? Net asset value $ 15 Per share b-1. If a large investor redeems 2 million shares, what happens to the portfolio value? (Enter your answer in dollars not in millions.) Portfolio value decreases to $ 402 X b-2. If a large investor redeems 2 million shares, what happens to shares outstanding? (Enter your answer in dollars not in millions.) Shares outstanding decreases ✓to $ 26 x

City Street Fund has a portfolio of $432 million and liabilities of $12 million. Required: a. If there are 28 million shares outstanding, what is the net asset value? Net asset value $ 15 Per share b-1. If a large investor redeems 2 million shares, what happens to the portfolio value? (Enter your answer in dollars not in millions.) Portfolio value decreases to $ 402 X b-2. If a large investor redeems 2 million shares, what happens to shares outstanding? (Enter your answer in dollars not in millions.) Shares outstanding decreases ✓to $ 26 x

Intermediate Financial Management (MindTap Course List)

13th Edition

ISBN:9781337395083

Author:Eugene F. Brigham, Phillip R. Daves

Publisher:Eugene F. Brigham, Phillip R. Daves

Chapter2: Risk And Return: Part I

Section: Chapter Questions

Problem 10P

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