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The net asset value of shares in a closed-end investment company is $36. An investor buys the shares for $34 in the secondary market. The

The net asset value of shares in a closed-end investment company is $36. An investor buys the shares for $34 in the secondary market. The company distributes $1 and after one year, the net asset rises to $42. The investor sells the shares for $44 in the secondary market. What is the discount?

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