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The value of Mike Jackson's shares in the New Frontiers Technology Fund is $53,300. The management fee for this particular fund is 0.70 percent of

The value of Mike Jackson's shares in the New Frontiers Technology Fund is $53,300. The management fee for this particular fund is 0.70 percent of the total asset value. Calculate the management fee Mike must pay this year. (Round your answer to 2 decimal places.)

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