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Assume in the morning an equity mutual fund owned $20,000,000 in stocks and $1,000,000 in cash, owed $2,000,000 in bank loans and 10,000,000 shares outstanding.

Assume in the morning an equity mutual fund owned $20,000,000 in stocks and $1,000,000 in cash, owed $2,000,000 in bank loans and 10,000,000 shares outstanding. The stock prices increased 20%, yielded 1% in dividends and the MF manager paid down half his debt. Now that night, assume that because of the strong performance the fund receives $30,000,000 in flows. How many shares does the mutual fund have outstanding?

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