How much will a firm receive in net funding from a firm commitment underwriting of 250,000 shares

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How much will a firm receive in net funding from a firm commitment underwriting of 250,000 shares priced to the public at $40 if a 10% underwriting spread has been added to the price paid by the underwriter? Additionally, the firm pays $600,000 in legal fees.
Firm Commitment Underwriting
A firm commitment has three general meanings in finance, but is most known as an underwriter's agreement to assume all inventory risk and purchase all securities for an initial public offering (IPO) directly from the issuer for sale to the public....
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Finance Applications and Theory

ISBN: 978-0077861681

3rd edition

Authors: Marcia Cornett, Troy Adair

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