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A company wants to raise $470 million in a new stock issue. its investment banker indicates that the sale of new stock will require 7

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A company wants to raise $470 million in a new stock issue. its investment banker indicates that the sale of new stock will require 7 percent underpricing and a 6 percent spread, (Hint: the underpricing is 7 percent of the current stock price, and the spread is 6 percent of the issue price.) 0. Assuming the company's stock price does not change from its current price of $72 per share, what would be the issue price to the public after underpricing? How many shares would the company need to sell? Note: Round intermediate calculations to 2 decimal places, Round your answers to 2 decimal places, Enter "Number of shares" answer in millions. (8) Answer is complete but not entirely correct. b. How much money will the investment banking syndicate earn on the sole? Note: Round intermediate calculations to 2 decimal places. Enter your answer in millions rounded to 2 decimal places

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