A customer redeems 1,000 shares of XYZ Fund. The computed Net Asset Value per share is $14.75 and the Public Offering Price is $16.03. The fund has a 1/4% redemption fee. The customer will receive:. A. $12,905.
B. $12,915.
C. $12,925.
D. $12,935.

$14,713

Explanation:

Calculation for what the customer will receive

First step is to know the amount of shares by multiply Shares redeems by the Net Asset Value per share

Hence,

Amount of shares=1,000 shares ×$14.75 per share

Amount of shares=$14,750 shares

Now let find the amount received using this formula

Amount to received= Amount of shares -(Amount of shares× Percentage for redemption fee)

Let plug in the formula

Amount to received=$14,750-($14,750×1/4%)

Amount to received=$14,750-$37

Amount to received=$14,713

Therefore the customer will receive the amount of $14,713

answer; according to the ( irs );

answer; ///pegged exchange rate with the united states;