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A mutual fund holds investments valued at $ 3 6 0 million and has liabilities of $ 4 0 million. The fund has 1 6

A mutual fund holds investments valued at
$360 million and has liabilities of $40
million. The fund has 16 million shares
outstanding. It is sold with a front-end load
of 3.75%. If Lucy is investing $40,000 in the
fund, how many shares of the fund will
Lucy buy?

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