The Closed Fund is a closed-end investment company with a portfolio currently worth $270 million. It has liabilities of $3 million and 4 million shares outstanding.

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

NAV $

b. If the fund sells for $63 per share, what is its premium or discount as a percent of NAV? (Input the amount as a positive value. Round your answer to 2 decimal places.)

The fund sells at an % (Click to select)premiumdiscount from NAV.