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Net asset value ( NAV ) is the total value of all the assets in the mutual fund minus liabilities, divided by the number of

Net asset value (NAV) is the total value of all the assets in the mutual fund minus liabilities, divided by the number of shares outstanding. What is the NAV of a mutual fund with assets minus liabilities totaling $155 million and with 3,100,000 shares outstanding? (Assume there are no costs.)

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