Multiple Choice
A best efforts IPO underwriting consisted of 2.2 million shares at an offer price of $17 a share.The underwriter's fee was set at 6.65 percent.How many shares were sold if the issuer received $31,926,260.10?
A) 2,011,800 shares
B) 1,878,015 shares
C) 1,760,915 shares
D) 2,346,300 shares
E) 2,053,700 shares
Correct Answer:
Verified
Correct Answer:
Verified
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