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Question
An investment banker agrees to a firm commitment offering of 1.2 million shares of Bally stock. The offer price is set at $25.50 and the spread is 30 cents per share. If the stock is actually sold to the public at $26.00 however, what is the amount of funds Bally receives? (Ignore any other fees or expenses.)
A. $31,200,000
B. $30,600,000
C. $30,240,000
D. $29,280,000
E. $28,120,000
Answer
This answer is hidden. It contains 34 characters.
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