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Assume an equity mutual fund owns $20,000,000 in stocks and $1,000,000 in cash, owes $2,000,000 in bank loans and 10,000,000 shares outstanding. What is the

Assume an equity mutual fund owns $20,000,000 in stocks and $1,000,000 in cash, owes $2,000,000 in bank loans and 10,000,000 shares outstanding. What is the Mutual fund NAV? (Round to the nearest penny)

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