A Best Efforts IPO Underwriting Consisted of 1

Multiple Choice

A best efforts IPO underwriting consisted of 1.5 million shares at an offer price of $25 a share.The underwriter's fee was set at 6.65 percent.How many shares were sold if the issuer received $42,900,000?

A) 2,011,800 shares
B) 1,838,243 shares
C) 1,760,915 shares
D) 2,346,300 shares
E) 2,053,700 shares