To determine the net asset value (NAV) at which Nezzie must sell her shares to achieve a profit of \[tex]$5,000, we will break the problem down step-by-step.
1. Initial Investment Calculation:
- Nezzie initially buys 300 shares.
- The initial NAV (Net Asset Value) per share is \$[/tex]16.58.
- To find the total initial value of her shares, we multiply the number of shares by the initial NAV:
[tex]\[
\text{Initial Value} = 300 \times 16.58 = 4973.999999999999
\][/tex]
2. Total Value Needed for Desired Profit:
- Nezzie wants to make a profit of \[tex]$5,000.
- The total value needed is the initial investment plus the desired profit:
\[
\text{Total Value Needed} = 4974 + 5000 = 9974.0
\]
3. Determine New NAV:
- To find the new NAV at which Nezzie can sell her 300 shares to achieve the total value needed, we divide the total value needed by the number of shares:
\[
\text{New NAV} = \frac{\text{Total Value Needed}}{\text{Number of Shares}} = \frac{9974}{300} = 33.24666666666667
\]
So, according to the calculations, the net asset value at which Nezzie should sell her 300 shares to achieve a profit of \$[/tex]5,000 is approximately \[tex]$33.25.
Thus, the correct answer is:
b. \$[/tex]33.25
