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The date is April 1, 2021. Suppose a mutual fund owns 1000 shares of GM purchased for $22/share on 3/1/2020, 1000 shares of GM purchased
The date is April 1, 2021. Suppose a mutual fund owns 1000 shares of GM purchased for $22/share on 3/1/2020, 1000 shares of GM purchased for $20/share on 9/15/2020, and 1000 shares of GM purchased for $35/share on 6/10/2018. If the price of GM stock is now $25/share, which shares should be sold to meet $25,000 of shareholder redemptions?
| The shares purchased on 6/10/2018 |
| The shares purchased on 9/15/2020 |
| The shares purchased on 3/1/2020 |
| The mutual fund shareholders dont care which GM shares are sold |
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