Converting MM/YY into MM/DD/YY for date column

Jason F
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I had searched on here a couple times and tried some of what I found, couldn't get it to work.
I have the date imported in MM/YY format as a text column. I'd like to have a date column next to it, with MM/DD/YY, with the DD being the last day of the calendar month.
Am I aiming too high?
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