SHOW THE PROCESS FOR SOLVE IT WITH A CALCULATOR NOT EXCEL.

The Huff Co has just gone public. Under firm commitment agreement, Huff received $$21\mathrm{.}50$ for each of

the $6$ million shares sold. The initial offering price was $$23\mathrm{.}65$ per share, and the stock rose to $$30\mathrm{.}51$ per

share in the first few minutes of trading. Huff paid $$1,260,000$ in direct legal and other costs, and

$$390,000$ in indirect costs.

How much is the money left on the table?

A$.$ $$41\mathrm{.}16$ MILLION

B$.$ $$54\mathrm{.}06$ MILLION

C$.47\mathrm{.}64$ MILLION

D$.50\mathrm{.}83$ MILLION

How much is the net proceed received by the Huff Co$.$ from its IPO?

A$.$ $$127,350,000$

B$.$ $$129,000,000$

C$.$ $$127,740,000$

D$.$ $$114,840,000$

How much is the flotation costs in percentage term

A$.38\mathrm{.}56\%$

B$.40\mathrm{.}32\%$

C$.41\mathrm{.}68\%$

D$.43\mathrm{.}75\%$

E$.44\mathrm{.}09\%$