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The Closed Fund is a closed - end investment company with a portfolio currently worth $ 2 7 0 million. It has liabilities of $

The Closed Fund is a closed-end investment company with a portfolio currently worth $270 million. It has liabilities of $10 million and 15 million shares outstanding.
Required:
What is the NAV of the fund?
If the fund sells for $15 per share, what is its premium or discount as a percent of net asset value?

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