Multiple Choice
Basketball Games, Inc., with the help of its investment bank recently issued $5 million of new debt. The offer price (and face value) on the debt was $1,000 per bond and the underwriter's spread was 6 percent of the gross proceeds. What is the amount of capital funding Basketball Games raised through this debt offering?
A) $1,000
B) $0.30 million
C) $4.7 million
D) $5 million
Correct Answer:
Verified
Correct Answer:
Verified
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