Waterloo Waste Management Sells 5 Million Shares of Stock in an SEO,with

question 43

Multiple Choice

Waterloo Waste Management sells 5 million shares of stock in an SEO,with 3 million being primary shares issued by the company and 2 million being secondary shares sold by investors in the company.At the time of the sale,the firm's stock was selling at $12.50 per share.If the underwriter charges 7% of the gross proceeds as a fee,how much money was raised in the sale?

• A)$34.88 million
• B)$58.13 million
• C)$23.25 million
• D)$37.5 million
• E)$25 million

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Definitions:

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Acting on one's own; making decisions or taking action based on one's own judgment without relying on others.

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