Twenty-First Century

1. The Twenty-First Century closed-end fund has $350 million in securities, $8 million in liabilities, and 20 million shares outstanding. It trades at a 10 percent discount from net asset value (NAV).
a. What is the net asset values (NAV)
b. What is the current price of fund?

Solution Summary

This solution is comprised of a detailed explanation to answer what is the net asset values (NAV) and what is the current price of fund.