Suppose that 12 months ago, an investor purchased a given number of shares of a Mutual fund at the then fund’s Net Asset Value of $4.00. Assume that today (12 months later) this investor sells those shares at today’s NAV and that the yield on this individual’s investment is - 4.5%, yes, negative 4.5%. Suppose, furthermore, that the Fund’s Balance Sheet as of today shows the following information, in no particular order:
Cash…$24,790
Accrued fees and other liabilities… $87,458
Current market value of holdings of stocks…$5,749,612
Current market value of holdings of bonds... $2,579,536
Please calculate the number of this fund’s shares outstanding as of today. Please show your work clearly.