1.You invested in the no-load OhYes Mutual Fund one year ago by purchasing 800 shares of the fund at the net asset value of $25.75 per share. The fund distributed dividends of $1.81 and capital gains of $1.64. Today, the NAV is $26.84. If OhYes was a load fund with a 2% front-end load, what would be the HPR?

2.One year ago, Super Star Closed-End Fund had a NAV of$10.38 and was selling at a(n) 16% discount. Today, its NAV is $11.73 and it is priced at a(n) 5 %premium. During the year, Super Star paid dividends of $0.43 and had a capital gains distribution of $0.93. On the basis of the above information, calculate each of the following.

a. Super Star's NAV-based holding period return for the year.

b. Super Star's market-based holding period return for the year. Did the market premium/discount hurt or add value to theinvestor's return? Explain.

c. Repeat the market-based holding period return calculation, except this time assume the fund started the year at a(n) 16% premium and ended it at a(n) 5% discount. (Assume the beginning and ending NAVs remain at $10.38 and $11.73, respectively.) Is there any change in this measure of return? Why?