Use the Following Information to Answer the Question(s)below

question 42

Multiple Choice

Use the following information to answer the question(s) below.
Wyatt Oil has 8 million shares outstanding and is about to issue 10 million new shares in an IPO.The IPO price has been set at $15 per share,and the underwriting spread is 6%.The IPO is a big success with investors,and the share price rises to $35 on the first day of trading.
-The amount that Wyatt Oil raised during the IPO is closest to:

• A)$113 million.
• B)$141 million.
• C)$150 million.
• D)$329 million.
• E)$350 million.

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Definitions:

Villi

Small finger-like projections that line the small intestine, increasing its surface area for nutrient absorption.

Cystic Duct

A small duct that connects the gallbladder to the common bile duct, conducting bile to and from the gallbladder.

Hepatic Duct

The duct that conveys bile from the liver and gallbladder to the duodenum.

Gallbladder

A small, pear-shaped organ located under the liver that stores and concentrates bile, a fluid produced by the liver to aid in the digestion of fats.