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A mutual fund has a portfolio worth $3.5 million. The fund just sold 23,000 shares of ABC at a price of $87 per share to

A mutual fund has a portfolio worth $3.5 million. The fund just sold 23,000 shares of ABC at a price of $87 per share to buy shares of another company using the proceeds. What is the portfolio turnover of the mutual fund?

0.61

0.57

0.3

0.49

0.53

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