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The New Fund had average daily assets of $3.9 billion in the past year. The fund sold $417 million and purchased $517 million worth of

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The New Fund had average daily assets of $3.9 billion in the past year. The fund sold $417 million and purchased $517 million worth of stock during the year. What was its turnover ratio? (Round your answer to 2 decimal places.) Answer is not complete. Tumover rate

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