Use the Information for the Question(s)below

question 8

Essay

Use the information for the question(s)below.
Luther Industries sold 10 million shares of stock in an SEO.The market price of Luther at the time was $25 per share.Of the 10 million shares sold,6 million shares were primary shares being sold by the company,and the remaining 4 million shares were being sold by venture capitalists.Luther's underwriter charges 5% of the gross proceeds as an underwriting fee.
-How much money did the venture capitalists receive?

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Definitions:

Lift

The force that directly opposes the weight of an object and supports it in the air, often used in the context of aircraft.

Gravity

A fundamental force of nature that attracts two bodies towards each other, affecting all matter and having profound effects on celestial and terrestrial dynamics.

Adaptation

The evolutionary process by which organisms become better suited to their environment, leading to changes in their structure, behavior, or physiology.

Fly

A small, winged insect belonging to the order Diptera, known for its ability to fly quickly and its role in various ecosystems as both pollinator and decomposer.