Suppose you earn $$70,000$ per year working at your corporate job. You've come up with a very profitable day trading strategy that will beat the market by approximately $4\mathrm{.}9\%$ per year without incurring any additional risk. The strategy requires you to quit your job to trade. The typical holding period in your strategy is $10$ trading days, so you'll have a daily portfolio turnover of $10\%.$ Your strategy will incur round$-$trip transaction and tax costs of approximately $9$ basis points. How large of a trading portfolio would you need to justify quiting your job and becoming a full$-$time day trader? Assume $250$ trading days per year. Give your answer to the nearest dollar.

Selected Answer:

Correct $2,641,509$

Correct Answer:

Correct $2,641,509\backslash$pm $0\mathrm{.}5$