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Don's Captain Morgan, Inc. needs to raise $14.50 million to finance plant expansion. In discussions with its investment bank, Don's learns that the bankers recommend
Don's Captain Morgan, Inc. needs to raise $14.50 million to finance plant expansion. In discussions with its investment bank, Don's learns that the bankers recommend an offer price (or gross proceeds) of $22.40 per share and Don's will receive $2015 per share. Calculate the underwriter's spread per share on the issue. (Round your answer to 2 decimal places.) Underwriter's spread per share How many shares of stock will Don's need to sell in order to receive the $14.50 million it needs? (Round your answer to the nearest whole number.) Number of shares sold shares
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