A closed-end fund has total assets of $379 million and liabilities of $640,000. There are 36 million shares outstanding. What is the premium or discount if the shares are currently selling for $9.85 each?

discount % is 6.28 %

Explanation:

given data

total assets = $379 million

liabilities = $640,000

shares outstanding = 36 million

currently selling = $9.85

solution

we get here Net assets that is express as

Net assets = total assets - total liability ................1

Net assets = 379000000 - 640000

Net assets = 378360000

and

net assets per share will be =

net assets per share  = $10.51 per share

and now price is $9.85

so premium will be = × 100

premium  = - 6.28%

here negative show discount

so discount % is 6.28 %

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