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The New Fund had average daily assets of $2.4 billion in the past year. The fund sold $402 million and purchased $502 million worth of

The New Fund had average daily assets of $2.4 billion in the past year. The fund sold $402 million and purchased $502 million worth of stock during the year. What was its turnover ratio? (Round your answer to 2 decimal places.) Turnover ratio %

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