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Explanation:

The Net Asset Value (NAV) is the market value of the assets of the fund minus its liabilities divided by the number of shares in the fund.

\text{No. of shares} = \frac{(\text{Market value of assets} - \text{Liabilities})}{\text{NAV}}

\text{NAV} = \frac{(240,000,000 - 12,000,000)}{1,000,000} = 228

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Q-1137. Washington Mutual Fund had year-end assets worth $240 million and liabilities of $12 million. Given that there were a total of 1,000,000 shares outstanding, which of the following is closest to the net asset value (NAV) of the fund? | Financial Risk Manager Part 1 Quiz - LeetQuiz