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A company needs $1,328,260 to finance a new project.The company plans to issue new common shares at a price of $17.85 per share to fund

A company needs $1,328,260 to finance a new project.The company plans to issue new common shares at a price of $17.85 per share to fund this project.If the company must issue at least 78,770 shares to have enough funds for the new project, what is the underwriting spread?

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