Suppose you purchase 14500 shares of a closed-end mutual, Financial Management

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Suppose you purchase 14500 shares of a closed-end mutual

Suppose you purchase 14,500 shares of a closed-end mutual fund at its initial public offering; the offer price is $10 per share. The offering prospectus discloses that the fund promoter gets a fee of 4 percent from the offering. If this fund sells at a 7 percent discount to NAV the day after the initial public offering, what is the value of your investment?

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Financial Management: Suppose you purchase 14500 shares of a closed-end mutual

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