In a Recent IPO, the Sausage Co

question 22

Multiple Choice

In a recent IPO, the Sausage Co. offered 1.6 million shares of stock at an offer price of $18 a share. The underwriting was conducted on a best efforts basis with a spread of 7.0 percent. The Sausage Co. received a total of $25,079,868.00 in sale proceeds. How many shares were sold?

• A) 1,378,700 shares
• B) 1,486,500 shares
• C) 1,498,200 shares
• D) 1,505,700 shares
• E) 1,508,400 shares

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Sea Levels

The average height of the ocean's surface, used as a baseline for measuring elevation and depth on Earth.

Greenhouse Effect

A natural process where certain gases in Earth's atmosphere trap heat, keeping the planet warm enough to support life.

UV Radiation

Ultraviolet radiation, a type of energy emitted by the sun that can cause skin damage, including sunburn and skin cancer.

Troposphere

The lowest layer of Earth's atmosphere, where weather occurs and where most atmospheric water vapor exists.