Question: An investment bank pays $33.50 per share for 4 million shares of GM Company in a firm commitment stock offer- ing. It then can sell

An investment bank pays $33.50 per share for 4 million shares of GM Company in a firm commitment stock offer- ing. It then can sell those shares to the public for $32 per share. How much money does GM receive? What is the profit to the investment bank? What is the stock price of GM? (LG 16-2)

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