Suppose you purchase 14,000 shares of a closed end mutual fund at Its initial public offering; the offer price Is $100 per share. The offering prospectus discloses that the fund promoter gets an 5 percent fee from the offering. If this fund sells at a 7 percent discount to NAV the day after the initial public offering, what is the value of your investment? (Omit the "$" sign in your response.) Investment