Melanie is considering purchasing shares in an international bond fund. She has limited her search to one open-end and one closed-end fund. Information on the funds follows: NAV Sales price Annual expenses YTD return Open-End $13.93 no-load 1.15% 10.91 % Closed-End $25.03 $22.82 0.89% 11.35% a. How much would Melanie pay per share for the open-end fund? How much would she pay per share for the closed-end fund? b. Is the closed-end fund selling at a discount or a premium to its NAV? c. Given both funds' similar returns and expense ratios, would you recommend that Melanie purchase the closed-end fund? Why or why not