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You are considering the purchase of shares in a closed-end mutual fund. The NAV is equal to $23.72 and the latest close is $25.52. Is

You are considering the purchase of shares in a closed-end mutual fund. The NAV is equal to $23.72 and the latest close is $25.52. Is this fund trading at a premium or a discount? How big is the premium or discount?

Part 1

The fund is trading at a premium OR discount because the market price is above OR below the NAV. (Select correct answer.)

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