Answer:
e. $20
Explanation:
The net asset value (N) for The New American Enterprise Mutual Fund's portfolio is given by the funds total value ($120,000,000) subtracted by its liabilities ($4,000,000) and then divided by the number of shares issued (5,800,000) .
[tex]N = \frac{\$120,000,000-\$4,000,000}{5,800,000} \\N=\$20[/tex]
The fund's net asset value is $20
