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Consider a mutual fund that manages a portfolio of securities worth $230 million. Suppose the fund owes $3 million to its investment advisers and another

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Consider a mutual fund that manages a portfolio of securities worth $230 million. Suppose the fund owes $3 million to its investment advisers and another $2 million for rent, wages due, and miscellaneous expenses. The fund has 5 million shares outstanding Net asset value

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