#22

Student Number sodent Name The Benjamin Banneker Company is planning a major expansion program. To finance the ram, Banneker plans to sell an issue of 200,000 shares of stock at $35.20 per share. prog rhe underwriting commissions will be 5.5 percent of the value of the stocks. Accounting fees, legal fees, printing costs, and other expenses are estimated to be $142,985. Find the total selling expense, net proceeds, and cost per share of the underwriting expenses for the Benjamin Banneker Company. John Napier Financial Advisers Inc. (JN FAI) allocates 76% of its annual budget to employee compensation. JNFAI spends $1,345,000 annually on employee compensation. What is the annual budget of JNFAI? 23, conti