3. The composition of a "BestFund" is as follows: Share price Stock B 35 Shares 200,000 300,000 400,000 600,000 C 20 25 D a. The fund's accrued management fee with the portfolio manager currently totals $30,000. There are 4 million shares outstanding. What is the net asset value of the fund? b. If during the year the portfolio manager sells all of the holdings of stock D and replaces it with 200,000 shares of stock E at $50 per share and 200,000 shares of stock Fat $25 per share, what is the portfolio turnover rate