One year​ ago, Big Deal​ Closed-End Fund had a NAV of ​$10.28and was selling at​ a(n) 16% discount.​ Today, its NAV is $11.58 and it is priced at​ a(n) 4% premium. During the​ year, Big Deal paid dividends of ​$0.33 and had a capital gains distribution of ​$0.91. On the basis of the above​ information, calculate each of the following. a. Big​ Deal's NAV-based holding period return for the year. b. Big​ Deal's market-based holding period return for the year. Did the market​ premium/discount hurt or add value to the​ investor's return? Explain. c. Repeat the​ market-based holding period return​ calculation, except this time assume the fund started the year at​ a(n)16% premium and ended it at​ a(n) 4% discount. ​(Assume the beginning and ending NAVs remain at ​$10.28 and $11.58​, respectively.) Is there any change in this measure of​ return? Why?

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