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8. Ying Corporation, Inc. plans to issue 10 million additional shares of its stock. The investment bank recommends net proceeds of $19.90 per share and

8. Ying Corporation, Inc. plans to issue 10 million additional shares of its stock. The investment bank recommends net proceeds of $19.90 per share and will charge an underwriter's spread of 5.5% of the gross proceeds. In addition, Ying Corporation must pay $2 million in legal and other administrative expenses. Calculate the gross proceeds and the total funds received by Ying Corporation from the sale of the 10 million shares of stock

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