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  3. 3. the new fund had average daily assets of $3.3 b

3. The New Fund had average daily assets of $3.3 billion in the past year....

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3. The New Fund had average daily assets of $3.3 billion in the past year. The fund sold $411 million and purchased $511 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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