The Emerging Fund Is a New Closed-End Fund Which Just

The Emerging Fund is a new closed-end fund which just offered its shares to the public.The fund raised $75 million and each share sold for $20.The fee for the fund promoter was 4.80 percent of the initial proceeds.What was the value of your initial $20,000 purchase before the shares began trading in the marketplace?

A) $18,430
B) $18,708
C) $19,040
D) $20,000
E) $20,735

Correct Answer:

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