You are given the following information:. New Empire Small Cap Fund
Total assets $760 million
Total liabilities $ 30 million
Total number of shares 50 million
Calculate the net asset value for the New Empire small-cap mutual fund. (Round your answer to 2 decimal places.)

14.60

Explanation:

The following information are given in the question:

Total assets $760 million

Total liabilities $ 30 million

Total number of shares 50 million

The net asset value will then be calculated as:

= (Assets - Liabilities) / Total number of outstanding shares

= (760 - 30) / 50

= 730 / 5

= 14.60

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