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A mutual fund has assets of $50 million, liabilities of $150,000, and 1 million shares outstanding. What is the net-asset value (NAV) for the fund?

A mutual fund has assets of $50 million, liabilities of $150,000, and 1 million shares outstanding. What is the net-asset value (NAV) for the fund? Enter your answer to the nearest cent (i.e. two decimal places).

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