Suppose an open$-$end mutual fund owns $$200$ million in stock, $$100$ million in bonds, $$5$ million in cash, and $$5$ million in liabilities and has $20$ million shares outstanding. What is the NAV?

Question $5$ options:

$$20\mathrm{.}50$

$$24\mathrm{.}90$

$$15\mathrm{.}00$

$$9\mathrm{.}08$

$$11\mathrm{.}72$