The Closed Fund is a closed-end investment company with a portfolio currently worth $525 million. It has liabilities of $20 million and 22 million shares outstanding. a. What is the NAV of the fund? (Round your answer to 2 decimal places.) b. If the fund sells for $20 per share, what is its premium or discount as a percent of net asset value? (Input the amount as a positive value. Round your answer to 2 decimal places.)