A Best Efforts IPO Underwriting Consisted of 2

question 48

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

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