Use the Information for the Question(s)below

question 8

Essay

Use the information for the question(s)below.
Luther Industries sold 10 million shares of stock in an SEO.The market price of Luther at the time was $25 per share.Of the 10 million shares sold,6 million shares were primary shares being sold by the company,and the remaining 4 million shares were being sold by venture capitalists.Luther's underwriter charges 5% of the gross proceeds as an underwriting fee.
-How much money did the venture capitalists receive?

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Definitions:

Ace Of Hearts

A playing card in the heart suit, regarded as either the highest or lowest depending on the game.

Comma Splice

A grammatical error involving the incorrect use of a comma to join two independent clauses without a conjunction.

PBS

Public Broadcasting Service, a non-commercial, public American television network known for educational and quality programming.

Run-on

In writing, a run-on sentence occurs when two or more independent clauses are connected improperly, usually lacking proper punctuation or conjunctions.