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Your client began purchasing shares of the GRO mutual fund two years ago. She has followed a dollar cost averaging approach by investing $2,000 every
Your client began purchasing shares of the GRO mutual fund two years ago. She has followed a dollar cost averaging approach by investing $2,000 every six months for the last two years. The following data depict her purchases.
Date | Net Asset Value of Fund | Number of Shares Purchased |
---|---|---|
October 1, 20X6 | $44.44 | 45 |
April 1, 20X7 | $38.46 | 52 |
October 1, 20X8 | $33.90 | 59 |
April 1, 20X9 | $48.78 | 41 |
What is your client's average cost per share of GRO?
A)
$42.78
B)
$41.40
C)
$48.32
D)
$40.61
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