An Investment Banker Agrees to Underwrite an Issue of 10

question 30

Multiple Choice

An investment banker agrees to underwrite an issue of 10 million shares of stock for Rochester Industries on a best-efforts basis. The investment banker is able to sell 8 million shares for $10.50 per share, and it charges Rochester Industries $0.225 per share sold.
-How much money does Rochester Industries receive?

• A)$15,000,000.
• B)$84,000,000.
• C)$76,200,000.
• D)$82,200,000.

---

Definitions:

Space

In computing, it refers to the amount of digital storage or memory capacity, or the blank character used in text.

Automatic Local Variables

Variables declared within a function or block, automatically allocated upon entry into the block and deallocated when exiting, with lifetimes limited to that block.

Reserved

Refers to identifiers or words in programming languages that are used by the language itself and therefore cannot be used as names by the programmer.

Automatic Variables

Automatic variables are local to the block in which they are defined and are automatically created and destroyed upon entering and exiting the block, respectively.