A closed-end fund has total assets of $270 million and liabilities of $640,000. There are 25 million shares outstanding. What is the premium or discount on the fund if the shares are currently selling for $9.80 each?
A) 6.48% discount
B) 7.64% discount
C) 9.01% discount
D) 6.34% premium
E) 8.04% premium
Correct Answer:
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