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QVC offers the Olympus M. Zuiko Digital 40-150mm f/4-5.6 R Micro ED Digital Zoom Lens for Micro Four Thirds System
. That's the lowest total price we could find by $92, although we saw it for $8 less in February. It features a minimum focus distance of 2.95 feet.
Of note, QVC appears to have the wrong image on the product page and may be sending out the newer R version in silver, as listed in the Q&A at bottom.