A closed-end fund that has 400 shares outstanding consists of the following: Assets: 200 shares of Shake Shak Inc (SHAK) common stock @ $40/share 200 shares of Freeport-McMoRan Inc (FCX) common stock @ $10/share a. (5) If the market price of a share of the closed-end fund is $22, what is the percentage premium or discount of the fund? Show your calculation (2 decimal places). b. (5) Since the market price and the NAV of the closed-end fund are different, how could an investor try to make a profit from this difference? c. (5) Briefly explain several problems that the investor will face in successfully executing the plan you propose in part b. d. (10) How would your answers to b. and c. change if the fund was an ETF rather than a closed-end fund? Explain in detail.