A mutual fund charges 6% front-end load and 1% operating and 12b-1 expenses. At the beginning...

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A mutual fund charges 6% front-end load and 1% operating and12b-1 expenses. At the beginning of the year, the fund has $100million assets under management and 10 million shares outstanding.During the year the value of assets held by the fund increases by12% and the fund receives dividends of $1 million. What is thefund's NAV at the end of the year? (The number of mutual fundshares outstanding is still 10 million at the end of the year.)
$11.09
$10.42
$11.19
$10

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A mutual fund charges 6% front-end load and 1% operating and12b-1 expenses. At the beginning of the year, the fund has $100million assets under management and 10 million shares outstanding.During the year the value of assets held by the fund increases by12% and the fund receives dividends of $1 million. What is thefund's NAV at the end of the year? (The number of mutual fundshares outstanding is still 10 million at the end of the year.)$11.09$10.42$11.19$10