1A. A mutual fund's Net Asset Value is calculated based on the _______________ of the stocks held in the fund.

		Bid price.
		Ask price.
		Opening price.
		Closing price.
		After-hours trading price.

1B.

A mutual fund had NAV per share of $37.12 on January 1, 2016. On December 31 of the same year, the fund's rate of return for the year was 11.0%. Income distributions were $2.26, and the fund had capital gain distributions of $1.64. Without considering taxes and transactions costs, what ending NAV would you calculate?

		$37.30
		$37.93
		$34.52
		$47.25
		$36.28