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QUESTION
A closed-end fund starts the year with a net asset value of $25. By year-end, NAV equals $26. At the beginning of the year, the fund is selling at a...
A closed-end fund starts the year with a net asset value of $25. By year-end, NAV equals $26.40. At the beginning of the year, the fund is selling at a 3% premium to NAV. By the end of the year, the fund is selling at a 8% discount to NAV. The fund paid year-end distributions of income and capital gains of $2.80.
