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The composition of the Fingroup Fund portfolio is as follows: Stock Shares Price A 250,000 $...

The composition of the Fingroup Fund portfolio is as follows:

Stock Shares Price
A 250,000 $ 35
B 350,000 40
C 450,000 15
D 650,000 20


If during the year the portfolio manager sells all of the holdings of stock D and replaces it with 260,000 shares of stock E at $40 per share and 260,000 shares of stock F at $10 per share, what is the portfolio turnover rate? (Round your answer to 2 decimal places.)

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