The Telwar Company has just gone public. Under a firm commitment agreement, the company received $ 1
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Question:
The Telwar Company has just gone public. Under a firm commitment agreement, the company received $ for each of the million shares sold. The initial offering price was $ per share, and the stock rose to $ per share in the first few minutes of trading. The company paid $ in direct legal and other costs and $ in indirect costs. What was the flotation cost as a percentage of funds raised?
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