Calculating Costs of Issuing Stock Paige's Purses, Incorporated needs to raise $30.60 million in new capital funding from a seasoned equity offering. In discussions with its investment bank, Paige learns that the bankers recommend a gross price of $26.50 per share and they will charge an underwriter's spread of $2.60 of the gross price. In addition, Paige must pay $2.06 million in legal and other administrative expenses for the 'seasoned stock offering. What number of shares of stock that Paige will need to sell to raise the $30.60 milion. Multiple Choice 1,154,717 1,232,453 1,366,527 1,280,335 Calculating Fees on a Loan Commitment You have approoched your local bank for a start-up loan commitment for $1,010,000 needed to open a car repair store. You have requested that the term of the loan be one.year. Your bank has offered you the following terms size of loan commitment =$1,010,000, term =1 year, up-front fee =15 basis points, back-end fee =40 basis points, and rate on the loan =8%. If you immediately take down $760,000 and no more during the year, what is the total interest and fees you hove paid on this loan commitment? Mutiple Choke 562.940 $83,315 $66,355 $63,315