One year ago, Super Star Closed$-$End Fund had an NAV of $$10\mathrm{.}40$ and was selling at an $18\%$ discount. Today, its NAV is $$11\mathrm{.}69$ and it is prices at a $4\%$ premium. During the year, Super Star paid dividends of $$0\mathrm{.}40$ and had a capital gains distribution of $$0\mathrm{.}95.$ One the basis of this information, calculate each of the following:

a$.)$ Super Stars NAV$-$based holding period return for the year.

b$.)$ Super Stars market$-$based holding period return for the year. Did the market premium$/$discount hurt of add value to the investors return? Explain.

c$.)$ Repeat the market$-$based holding period return calculation, except this time assume the fund started the year at an $18\%$ premium and ended it at a $4\%$ discount. $($Assume the beginning and ending NAVs remain at $$10\mathrm{.}40$ and $$11\mathrm{.}69,$ respectively.$)$ Is there any change in this measure of return? Why