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At the beginning of January, a mutual fund with 5 million shares outstanding holds securities worth $50 million. During January, the firm experiences redemptions of
At the beginning of January, a mutual fund with 5 million shares outstanding holds securities worth $50 million. During January, the firm experiences redemptions of 1,000,000 shares and incurs investment expenses of $255,000. If the securities held are worth $32.5 million at the end of the month, then what is the NAV at that time.
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