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The Closed Fund is a closed-end investment company with a portfolio currently worth $215 million. It has liabilities of $6 million and 4 million shares

The Closed Fund is a closed-end investment company with a portfolio currently worth $215 million. It has liabilities of $6 million and 4 million shares outstanding.

Required:

a. What is the NAV of the fund? (Round your answer to 2 decimal places.)

b. If the fund sells for $49 per share, what is its premium or discount as a percent of NAV? (Input the amount as a positive value. Do not round your intermediate calculations. Round your answer to 2 decimal places.)

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