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The composition of the Fingroup Fund portfolio is as follows: Stock Shares Price A 2 3 0 , 0 0 0 $ 4 0 B

The composition of the Fingroup Fund portfolio is as follows:
Stock Shares Price
A 230,000 $ 40
B 330,00045
C 430,00020
D 630,00025
Required:
If during the year the portfolio manager sells all of the holdings of stock D and replaces it with 210,000 shares of stock E at $50 per share and 210,000 shares of stock F at $25 per share, what is the portfolio turnover rate? (Round your answer to 2 decimal places.)

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