26. Five months ago, you purchased 200 shares of a mutual fund at an offering price of $54 a share. The fund imposes a front-end load of 4.5 percent and has total annual expenses of 1.08 percent. The NAV of the fund today is $52.40. There were no fund distributions during these five months. What is your holding period return on this investment? A -2.98 percent B. -1.92 percent C. 1.44 percent D. 1.89 percent E. 2 26 percent 27. A closed-end fund has total assets of $379 million and liabilities of $640,000. There are 36 million shares outstanding. What is the premium or discount if the shares are currently selling for $9.85 each? A. 7.46 percent discount B. 6.28 percent discount C. 6.94 percent discount D. 6.80 percent premium E. 7.46 percent premium 28. An index consists of the following securities. What is the value-weighted index return? Value-weighted Stock T z Shares O/S 5,000 2,000 Beginning Share Price $20 $38 Ending Share Price $28 $40 A. 12.75 percent B. 15.00 percent C. 16.50 percent D. 18.75 percent E. 25.00 percent 7