Braynerd Chemicals Sells 40 Million Shares of Stock in an SEO

question 76

Multiple Choice

Braynerd Chemicals sells 40 million shares of stock in an SEO 35 million being primary shares issued by the company and 5 million being secondary shares sold by investors in the company.At the time of the sale,Braynerd's stock was selling at $22.50 per share.If the underwriter charges 6% of the gross proceeds as a fee,how much money was raised in the sale?

• A)$553.00 million
• B)$620.85 million
• C)$740.25 million
• D)$846.00 million

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Definitions:

Inferior Vena Cava

A large vein that carries deoxygenated blood from the lower and middle body into the right atrium of the heart.

Radial Veins

Veins located on the lateral side of the forearm, responsible for draining blood from the hand and forearm back towards the heart.

Ulnar Veins

Veins located along the ulna bone in the forearm, responsible for draining blood from the hand and forearm back toward the heart.

Axillary Vein

A large blood vessel that conveys blood from the lateral aspect of the thorax, arm, and shoulder back to the heart.