# The Argentina Fund has \$450 million in assets and sells at a discount of 6.3 percent to NAV. If the quoted share price for this closed-end fund is \$16.42, how many shares are outstanding? (Do not round intermediate calculations. Round your answer to the nearestwhole number.)

Question
Step 1

Net asset value per share can be computed with the help of a fraction, where numerator of the fraction is fund value or asset value and denominator of the fraction is number of share outstanding. Asset value per share state the share price which is used in trading of shares.

It is given that,

Asset value \$450 million.

Discount rate is 6.3%.

Quoted share price is \$16.42.

Step 2

The formula to calculate shares outstanding is given below:

Step 3

Substitute \$450 million for asset value, 6.3% for disco...

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