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A closed-end investment company has a net asset value of $12,50. A year ago the shares sold for a 20 percent discount but that discount
A closed-end investment company has a net asset value of $12,50. A year ago the shares sold for a 20 percent discount but that discount has narrowed ( t declined) to 10 percent. If the company distributed $1.05 a share, what was the feturn on an investment in the shares before considering commissions on purchase? Round your answer to two decimal places
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