Briefly explain the difference

Briefly explain the difference between Best Efforts and Firm Commitment underwriting agreements Which of the two methods is more risky for the investment hank? Explain why. Suppose Amberline Associates enters into Firm Commitment underwriting agreement with Goldman Sachs to issue 4200 of 5 year corporate bonds with $1,000 face value. Goldman agrees to buy the bonds for $620 each and sells 84% of the issue in the market for $831 per bond. Find the proceeds of the issue to Amberline and Goldman Sacks Suppose Amberline Associates enters into a Best Efforts underwriting agreement with Goldman Sachs to issue 4200 of 5 year corporate bonds with $1,000 face value Goldman will sell bonds at the target price of $831 per bond and charge $0.045 per dollar of face value. Calculate the proccedes of the issue to Amberline and Goldman, if Goldman is able to sell 72% of the issue