Question: Problem 4-11 Calculating Turnover (LO2, CFA1) A sector fund specializing in commercial bank stocks had average daily assets of $8.7 billion during the year. This

Problem 4-11 Calculating Turnover (LO2, CFA1) A sector fund specializing in commercial bank stocks had average daily assets of $8.7 billion during the year. This fund sold $3.92 billion worth of stock during the year, and its turnover ratio was 0.44. How much stock did this mutual fund purchase during the year? (Enter your answer in dollars not in billions, e.g., 1,234,567,891.) > Answer is complete but not entirely correct. Stock value 3,828,000

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