3. Underwriting Costs. For each of the following pairs of issues, state which issue you would expect

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3. Underwriting Costs. For each of the following pairs of issues, state which issue you would expect would involve the lower proportionate underwriting and administrative costs, other things equal. (LO3)

a. A large issue/a small issue.

b. A bond issue/a common stock issue.

c. A small private placement of bonds/a small general cash offer of bonds.

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