Suppose you purchase 6,500 shares of a closed-end mutual fund at its initial public offering; the offer price is $10 per share. The offering prospectus discloses that the fund promoter gets a fee of 5 percent from the offering. If this fund sells at a discount of 5 percent to NAV the day after the initial public offering, what is the value of your investment? (Do not round intermediate calculations. Round your answer to the nearest whole number.)

Investment Value =