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An investment banker agrees to a firm commitment offering of 1.5 million shares of Bally stock. The offer price is set at $25.50 and the
An investment banker agrees to a firm commitment offering of 1.5 million shares of Bally stock. The offer price is set at $25.50 and the spread is 30 cents per share. If the stock is actually sold to the public at $28.00, however, what is the amount of funds Bally receives? (Ignore any other fees or expenses.)
A) $31,200,000
B) $30,600,000
C) $30,240,000
D) $37,800,000
E) $28,120,000
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