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Problem 17-07 A closed-end investment company has a net asset value of $12.60. A year ago the shares sold for a 20 percent discount but

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Problem 17-07 A closed-end investment company has a net asset value of $12.60. A year ago the shares sold for a 20 percent discount but that discount has narrowed (that is, declined) to 10 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. %

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