17-11A. (Flotation costs and issue size) D. Butler, Inc., needs to raise $14 million. Assuming that the
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17-11A. (Flotation costs and issue size) D. Butler, Inc., needs to raise $14 million. Assuming that the market price of the firm's stock is $95 and flotation costs are 10 percent of the market price, how many shares would have to be issued? What is the dollar size of the issue?
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Financial Management Principles And Applications
ISBN: 9780131450653
10th Edition
Authors: Arthur J. Keown, J. William Petty, John D. Martin, Jr. Scott, David F.
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