1. A syndicate is underwriting a new stock offering in a divided account. The offering is 5,000,000 shares and a member of the syndicate is responsible for selling 500,000 shares. after selling 400,000 shares of the allotment, the manager reports there are 1,500,000 shares left unsold by the syndicate. how many shares is the syndicate member responsible for selling at this point?

   		100,000
   		0
   		300,000
   		150,000