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8 friends join to create a private open-end fund. Each individual is to commit $8,000 to the fund. The group decides to create 40,000 shares.

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8 friends join to create a private open-end fund. Each individual is to commit $8,000 to the fund. The group decides to create 40,000 shares. They invest the money in the US stock market. After 2 years, the assets in the fund grew by 12.68%. What is the new NAV

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