The Exploratory Fund is a new closed-end fund which just offered its shares to the public. The fund raised $66.5 million and each share sold for $10. The fee for the fund promoter was 5.75% of the initial proceeds. What was the value of your initial $22,000 purchase before the shares began trading in the marketplace? Multiple Choice $18,400 $18,700 $19,100 $20,000 $20,735