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The Wonder Fund is a closed - end investment company with a portfolio currently worth $ 2 0 0 million. It has liabilities of $

The Wonder Fund is a closed-end investment company with a portfolio currently worth
$200 million. It has liabilities of $3 million and 5 million shares outstanding.
a. What is the NAV of the fund?
b. If the fund sells for $36 per share, what is its premium or discount as a percent of net
asset value?
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