Firm X needs to net $7,400,000 from the sale of common stock. Its investment banker has informed
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Question:
Firm X needs to net $7,400,000 from the sale of common stock. Its investment banker has informed the firm that the retail price will be $23 per share, and that firm X will receive $20.00 per share. Out-of-pocket costs are $200,000. How many shares must be sold to achieve the desired net to the issuing firm? (Round up your answer to nearest whole number.)
Multiple Choice
375,000
385,000
395,000
380,000
Related Book For
Foundations of Financial Management
ISBN: 978-1259194078
15th edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
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