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One year ago, Big Deal Closed-End Fund had a NAV of $10.24 and was selling at a(n) 19% discount. Today, its NAV is $11.63 and

One year ago, Big Deal Closed-End Fund had a NAV of $10.24 and was selling at a(n) 19% discount. Today, its NAV is $11.63 and it is priced at a(n) 7% premium. During the year, Big Deal paid dividends of $0.36 and had a capital gains distribution of $0.94. On the basis of the above information, calculate each of the following. a. Big Deal's NAV-based holding period return for the year. b. Big Deal's market-based holding period return for the year. Did the market premium/discount hurt or add value to the investor's return? Explain. c. Repeat the market-based holding period return calculation, except this time assume the fund started the year at a(n) 19% premium and ended it at a(n)7% discount. (Assume the beginning and ending NAVs remain at $10.24 and $11.63, respectively.) Is there any change in this measure of return? Why?

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