Question: I do not know if my answer is correct. Parafoil Avionics sells 50 million shares of stock in an SEO20 million being primary shares issued

I do not know if my answer is correct. Parafoil Avionics

I do not know if my answer is correct.

Parafoil Avionics sells 50 million shares of stock in an SEO20 million being primary shares issued by the company and 30 million being secondary shares sold by investors in the company. At the time of the sale, Parafoil's stock was selling at $13.0 per share. If the underwriter charges 5% of the gross proceeds as a fee, how much money did existing investors in the company net from the sale? O A. $1,482.00 million O B. $1,500.53 million C. $389.03 million D. $370.50 million

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