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A Closed-end fund has $921,000,000 in assets, $130,000,000 in debt, and there are 509,000,000 shares outstanding. The shares are currently trading at $1.35 per shares.
A Closed-end fund has $921,000,000 in assets, $130,000,000 in debt, and there are 509,000,000 shares outstanding. The shares are currently trading at $1.35 per shares. Thus, they are trading at a discount. What is the percentage discount? (do not round until the last step.) [Give your answer as a percentage with 2 decimals, e.g., if the answer is 0.0345224 (or 3.45224%). enter 3.45 as your answer.)
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