$$

$32$

The Milken Investment Fund buys $80$ bonds of the Levine Corporation through its broker. The bonds pay $12$ percent annual interest $$1,000.$ Using an assumption rate of interest$)$ is $14$ percent. The bonds have a $25-$year maturity. Assume the par value of the bonds is values as answers. Round the final answers to $2$ payments, $($Use o Financial colculator to arrive ot the answers. Enter positive

$2$

points

a$.$ Compute the price of the bond

$800$:$23$:$57$

Price of the bond

$$$

b$.$ Compute the total value of the $80$ bonds.

Total value

$31$ Winston Sporting Goods is considering a public offering of common shares. Its investment dealer has informed the company that the retail price will be $$19\mathrm{.}55$ per share for $680,000$ shares. The company will receive $$17\mathrm{.}75$ per share and will incur $$205,000$ in registration, accounting, and printing fees.

a$.$ What is the spread on this issue in percentage terms? $($Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Spread :

b$.$ What are the total expenses of the issue as a percentage of total value $($at retail$)?($Do not round intermediate calculations. Round the final answer to $2$ decimal places.$)$

Expenditure percentage $,,\%$

C$.$ If the firm wants to net $$22\mathrm{.}87$ million from this issue, how many shares must be sold? $($Enter your answers in thousands of dollars. Do not enter the onswers in millions.$)$

Shares