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Company M had excess cash. It used that cash to purchase an index fund trading on the New York Stock Exchange. When purchased, the index
Company M had excess cash. It used that cash to purchase an index fund trading on the New York Stock Exchange. When purchased, the index fund traded at $30 per share and Company M purchased 1,246 shares. At the end of the year, this index fund trades at $31.50 per share. Compute the change in value that Company M will report at the end of the year.
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