Decides to reinvest dividends and capital gains distribution

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Reference no: EM131188190

Last year at this time, a mutual fund had an NAV of $13.20 per share. Over the past year the fund paid dividends of $0.80 per share and had a capital gains distribution of $1.20 per share. An investor who holds 600 shares of this fund decides to reinvest the dividends and capital gains distribution at an average NAV of $13.80. What is the current value of this investment assuming that the current NAV is $14.42? (Round off to the nearest $ amount.)

Reference no: EM131188190

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