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An IPO is offered at$17 per share for 3 million shares. The IPO underwriters had a spread of7%. What price did the underwriters pay per

An IPO is offered at$17 per share for 3 million shares. The IPO underwriters had a spread of7%. What price did the underwriters pay per share of the IPOfirm?

$18.19

$17

$15.81

$14

$16

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