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The net asset value of shares in a closed-end investment company is $40. An investor buys the shares for $38 in the secondary market. The

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The net asset value of shares in a closed-end investment company is $40. An investor buys the shares for $38 in the secondary market. The company distribules $1 and after one year, the net asset rises to $42. The investor sells the shares for $44 in the secondary market. a. What is the discount? b. What is the percentage retum on the investment? c. In both problems I and 2, the investment company's net asset value rose from $40 to $42 and the company distributed $1. Why are the percentage returns different

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