Question: PLEASE ANSWER AND EXPLAIN THESE QUESTIONS 1.The Closed Fund is a closed-end investment company with a portfolio currently worth $200 million. It has liabilities of

PLEASE ANSWER AND EXPLAIN THESE QUESTIONS

1.The Closed Fund is a closed-end investment company with a portfolio currently worth $200 million.

It has liabilities of $3 million and 5 million shares outstanding.

a. What is the NAV of the fund?

b. If the fund sells for $36 per share, what is its premium or discount as a percent of NAV?

2. Corporate Fund started the year with a net asset value of $12.50.

By year-end, its NAV equaled $12.10. The fund paid year-end distributions of income and capital gains of $1.50.

What was the rate of return to an investor in the fund?

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