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The Closed Fund is a closed-end investment company with a portfolio currently worth $500 million. It has liabilities of $10 million and 7 million shares
- The Closed Fund is a closed-end investment company with a portfolio currently worth $500 million. It has liabilities of $10 million and 7 million shares outstanding.
(a) What is the NAV of the fund?
(b) If the fund sells for $66.50 per share, what is its premium or discount as a per- centage of NAV?
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Foundations Of Financial Management
Authors: Stanley B Block, Geoffrey A Hirt
12th Edition
0073295817, 9780073295817
