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A company wants to raise 5440 million in a new stock issue, its investment banker indicates that the sale of new stock will require 8

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A company wants to raise 5440 million in a new stock issue, its investment banker indicates that the sale of new stock will require 8 percent underpricing and a 7 percent spread. P-tint the undeipricing is 8 percent of the current stock price, and the spread is 7 percent of the issue price) a. Assuming the company's stock price does not change from its current price of $69 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. 0. How much money will the investment banking syndicate earn on the saie? Note: Round Intermedlate colculatlons to 2 decimol ploces. Enter your answer in millons rounded to 2 decimal places

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