The Very Big Corporation Needs to Net $10,000,000 from the Sale

question 34

Multiple Choice

The Very Big Corporation needs to net $10,000,000 from the sale of common stock.Its investment dealer has informed the firm that the retail price will be $25 per share,and that the firm will receive $22 per share.Out-of-pocket costs are $300,000.How many shares must be sold?

• A) 454,545
• B) 468,182
• C) 412,000
• D) 400,000

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