please answer all of them thank you

1. The American Funds closed-end fund has $480 million in securities, $40 million in liabilities, and 24 million shares outstanding. It trades at a 15 percent discount from net asset value (NAV). a) What is the net asset value of the fund? b) What is the current price of the fund? c) Suggest two reasons why the fund may be trading at a discount from net asset value.

2. The Wellington closed-end fund has $250 million in securities, $20 million in liabilities, and 15 million shares outstanding. It trades at a 10 percent premium above its net asset value (NAV). a) What is the net asset value of the fund? b) What is the current price of the fund? c) Why might a fund trade at a premium above its net asset value?

3. In problem 2, if the Wellington fund converted to an open-end fund trading at its net asset value with a 5 percent load (commission), what would its purchase price be?

4. In problem 3, if the Wellington Fund converted to an open-end fund and traded at $15.33, would it be a load or no-load fund?