Question: LIBANOS FUND, is a closed-end fund: Starts the year with a NAV of $54. By year-end, NAV equals $57.20. At the beginning of the year,

LIBANOS FUND, is a closed-end fund: Starts the year with a

LIBANOS FUND, is a closed-end fund: Starts the year with a NAV of $54. By year-end, NAV equals $57.20. At the beginning of the year, the fund is selling at a 4% premium to NAV. By the end of the year, the Fund is selling at an 8% discount to NAV. The Fund paid year-end distributions of income and capital gains of $6.00 a. What was the change in price of the Fund? (Rise of fell) 4 Beginning year. End of year "(1 -_= Change in price $ It is considered as Falling Rising

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