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A company needs $1,648,210 to finance a new project. The company plans to issue new common shares at a price of $20.85 per share to

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A company needs $1,648,210 to finance a new project. The company plans to issue new common shares at a price of $20.85 per share to fund this project. If the company must issue at least 86,420 shares to have enough funds for the new project, what is the underwriting spread? 7.67% 7.89% 8.10% 8.31% 8.53%

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