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5 How much will a firm receive in net funding from a firm commitment underwriting of 250,000 shares priced to the public at $40 if

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5 How much will a firm receive in net funding from a firm commitment underwriting of 250,000 shares priced to the public at $40 if a 5% underwriting spread has been added to the price paid by the underwriter? Additionally, the firm pays $600,000 in legal fees. (I WANT TO SEE YOUR STEPS FOR THE RESULT. JUST SHOWING THE RESULT WILL NOT BE ACCEPTED. ADDITIONALLY, STRONG SIMILARITIES IN THE CALCULATIONS WILL BE CONSIDERED AS CHEATING.) (15 Points)

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