Use the Following Information to Answer the Question(s)below

question 42

Multiple Choice

Use the following information to answer the question(s) below.
Wyatt Oil has 8 million shares outstanding and is about to issue 10 million new shares in an IPO.The IPO price has been set at $15 per share,and the underwriting spread is 6%.The IPO is a big success with investors,and the share price rises to $35 on the first day of trading.
-The amount that Wyatt Oil raised during the IPO is closest to:

• A)$113 million.
• B)$141 million.
• C)$150 million.
• D)$329 million.
• E)$350 million.

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Definitions:

Advancement

The process of promoting or moving forward towards a more developed or improved state, often referring to careers, technology, or society.

Colored People

An outdated term historically used in the United States to refer to African Americans, now considered derogatory and replaced by more respectful terms.

Slavery

A system in which individuals are owned by others, deprived of personal freedom and forced to perform labor or services without compensation.

Controversy

A prolonged public disagreement or heated discussion, often involving differing opinions on a particular subject.