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1.) (10 points) The composition of a specific mutual fund portfolio is as follows: Stock A Shares 2,000,000 3,000,000 1,000,000 Price $50 $38 $72 The fund has not borrowed any money, but has accrued management fees over the last year totaling $2,400,000. There are currently 10 million mutual fund shares. A.) What is the net asset value of the fund? B.) If during the year the fund manager sells all 1,000,000 shares of stock C and then replaces them with 3,000,000 shares of stock D at $24 per share, what is the portfolio turnover rate of the fund for the year