Chapter 16 Assignment i Saved UT XYZ, Inc. has issued 10 million new shares of stock. An investment bank agrees to underwrite these shares on a best efforts basis. The investment bank is able to sell 8.6 million shares for $22 per share, and it charges XYZ $0.775 per share sold. 10 points a. How much money does XYZ receive? (Enter your answer in dollars, not in millions. Do not round intermediate calculations.) b. What is the profit to the investment bank? (Enter your answer in dollars, not in millions. Do not round intermediate calculations.) c. What is the stock price of XYZ? (Enter your answer in dollars, not in millions.) eBook a. Net proceeds b. Profit to the investment bank c. Stock price of XYZ Print References