A closed-end investment company has a net asset value of $12.75. A year ago the shares sold for a 24 percent discount but that discount has narrowed (that is, declined) to 12 percent. If the company distributed $1.05 a share, what was the return on an investment in the shares before considering commissions on the purchase? Round your answer to two decimal places.
A closed-end investment company has a net asset value of $12.75. A year ago the shares sold for a 24 percent discount but that discount has narrowed (that is, declined) to 12 percent. If the company distributed $1.05 a share, what was the return on an investment in the shares before considering commissions on the purchase? Round your answer to two decimal places.
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
Problem 1PS
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A closed-end investment company has a net asset value of $12.75. A year ago the shares sold for a 24 percent discount but that discount has narrowed (that is, declined) to 12 percent. If the company distributed $1.05 a share, what was the return on an investment in the shares before considering commissions on the purchase? Round your answer to two decimal places.
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