The Druid Fund has a NAV of $9.00 and an offer price of $9.45. We know
The Druid Fund has a NAV of $9.00 and an offer price of $9.45. We know, then, that
A)
Druid is a load fund.
B)
Druid is about to be issued to the public as a no-load fund with a $0.45 offer cost.
C)
shares can be purchased only through a stockbroker.
D)
there is a $0.45 premium paid to investors to buy the shares.
ANSWER
A
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