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Question: an openended managed fund has a portfolio valued at 4000000...

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An open-ended managed fund has a portfolio valued at $4,000,000 on Tuesday 27th October 4pm. The fund has 8,000 units on issue on Tuesday 27th October. The fund has received a redemption order from existing investors for 6,000 units between Monday 26th October 4pm and Tuesday 27th October 4pm.

Calculate the unit price that these leaving investors have received.

[You will express your answer by rounding it up to two decimals. You will not type the $ sign. For example if you find $ 212.114 or $212.118, you are required to type 212.12.]

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