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QUESTION Using the FCA ( Financial Conduct Authority ) formula, calculate the maximum Offer price and the minimum Bid price of the units in a

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Using the FCA ( Financial Conduct Authority ) formula, calculate the maximum Offer price and the minimum Bid price of the units in a fund, given the following information:

Market price of Offer Units 5.25 million

Market price of Bid units 5.0 million

Assumed broker fees (for both bid/offer) 0.25%

Accrued Income 4.25p

Total number of Units in circulation 2,500,000

Initial Charge 7%

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