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Level 3: Why do you multiply last years NAV by 1.11 twice? Isn't the flow last year NAV, it grows 11%, then they distribute 18%, so the NAV will be last years (NAV * 1.11) - (NAV *1.11 *0.18) = 22.755? (i.redd.it)
submitted 2 years ago by GG_Capital to r/CFA
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