Problem 17-07\ A closed-end investment company has a net asset value of

$12.50

. A year ago the shares sold for a 24 percent discount but that discount has narrowed (that is, declined) to 12 percent. If the company distributed

$1.35

a share, what was the return on an investment in the shares before considering commissions on the purchase? Round your answer to two decimal places.\

%

A closed-end investment company has a net asset value of $12.50. A year ago the shares sold for a 24 percent discount but that discount has narrowed (that is, declined) to 12 percent. If the company distributed $1.35 a share, what was the return on an investment in the shares before considering commissions on the purchase? Round your answer to two decimal places. %