Can someone explain the math here? It seems like it’s accounting for the growth twice. I thought it was the 25mm1.11 and then simply subtract the distribution (251.11*.18)
I assumed the NAV of $25 million is as of Jan 1, YYYY, with the distribution happening Dec 31, YYYY. That would lead me to believe that the second 1.11 is an error. Is there anything in the errata??? 