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An investment bank pays $34.70 per share for 4.2 million shares of GM Company in a firm commitment stock offering. It then can sell those
An investment bank pays $34.70 per share for 4.2 million shares of GM Company in a firm commitment stock offering. It then can sell those shares to the public for $33 per share.
a. | How much money does GM receive? (Enter your answer in dollars not in millions.) |
b. | What is the profit to the investment bank? (Enter your answer in dollars not in millions. Negative amount should be indicated by a minus sign. Do not round intermediate calculations.) |
c. | What is the stock price of GM? |
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