Convex Incorporated Sells 10 Million Shares of Stock in an SEO

question 93

Multiple Choice

Convex Incorporated sells 10 million shares of stock in an SEO 6 million being primary shares issued by the company and 4 million being secondary shares sold by investors in the company.At the time of the sale,Convex's stock was selling at $8.00.If the underwriter charges 6% of the gross proceeds as a fee,how much money was raised in the sale?

• A)$45.12 million
• B)$48.00 million
• C)$75.20 million
• D)$80.00 million

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Definitions:

Truth Table

A tabular representation used in logic to determine the truth value of a proposition based on the truth values of its components.

Component Statements

Parts of a compound statement in logic, each of which can be true or false separately.

Connective(s)

Logical operators in propositional logic that combine one or more propositions to form a logical statement.

Combustible Material

Any material that can ignite and burn, either freely or under specific conditions.