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The Closed Fund is a closed-end investment company with a portfolio currently worth $305 million. It liabilities of $5 million and 5 million shares outstanding. Required: a. What is the NAV of the fund? (Round your answer to 2 decimal places.) NAV Answer is complete and correct. $ 60.00 Per share

The Closed Fund is a closed-end investment company with a portfolio currently worth $305 million. It liabilities of $5 million and 5 million shares outstanding. Required: a. What is the NAV of the fund? (Round your answer to 2 decimal places.) NAV Answer is complete and correct. $ 60.00 Per share

Essentials Of Investments
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
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The Closed Fund is a closed-end investment company with a portfolio currently worth $305 million. It has liabilities of $5 million and 5 million shares outstanding. Required: a. What is the NAV of the fund? (Round your answer to 2 decimal places.) NAV Answer is complete and correct. $ 60.00 Per share b. If the fund sells for $57 per share, what is its premium or discount as a percent of NAV? (Input the amount as a positive value. Do not round your intermediate calculations. Round your answer to 2 decimal places.) > Answer is complete but not entirely correct. 5.26 % discount from NAV. The fund sells at a(n)
Transcribed Image Text:The Closed Fund is a closed-end investment company with a portfolio currently worth $305 million. It has liabilities of $5 million and 5 million shares outstanding. Required: a. What is the NAV of the fund? (Round your answer to 2 decimal places.) NAV Answer is complete and correct. $ 60.00 Per share b. If the fund sells for $57 per share, what is its premium or discount as a percent of NAV? (Input the amount as a positive value. Do not round your intermediate calculations. Round your answer to 2 decimal places.) > Answer is complete but not entirely correct. 5.26 % discount from NAV. The fund sells at a(n)
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