The X Fund, a closed-end investment company, has a portfolio of assets worth $500 million. It has

Question:

The X Fund, a closed-end investment company, has a of assets worth $500 million. It has liabilities of $2 million. It also has 40 million shares outstanding.
a. What is the fund's NAV?
b. II the fund trades at an 8% discount from its NAV, what is the market price of the fund's shares?
Portfolio
A portfolio is a grouping of financial assets such as stocks, bonds, commodities, currencies and cash equivalents, as well as their fund counterparts, including mutual, exchange-traded and closed funds. A portfolio can also consist of non-publicly...