Firm X needs to net $7,600,000 from the sale of common stock. Its investment banker has informed
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Firm X needs to net $7,600,000 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 $300,000. How many shares must be sold to achieve the desired net to the issuing firm?
Related Book For
Foundations of Financial Management
ISBN: 978-1259194078
15th edition
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen
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