Why have they multiplied again with 1.11? They have already calculated the current year end NAV after growing it for 1 year. Please explain this.
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Yes, they have made a mistake in this question and Errata has been issued for the same as well.
https://www.cfainstitute.org/-/media/documents/support/programs/cfa/2022-cfa-level-iii-errata.pdf
Please check Reading 20. This is a practice problem question i.e. Question 20