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A company is planning an IPO of 20 million shares.Each share is expected to sell at $12per share.The investment banker will charge a 7% spread

A company is planning an IPO of 20 million shares.Each share is expected to sell at $12per share.The investment banker will charge a 7% spread and incur expenses of $5 million.How much will the company receive if all shares sell at the expected price?

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