FA2021 FN 310 QX Fund of Financial Management (1) Save 3 Homework: C... Question 9, P15-13 (simi... Part 1 of 6 HW Score: 52.08%, 6.25 of 12 points O Points: 0 of 1 Firm commitment versus best efforts. Astro Investment Bank offers Lunar Vacations the following options on its initial public sale of equity (a) a best efforts arrangement whereby Astro will keep 25% of the retail sales or (b) a firm commitment arrangement of $9,600,000 Lunar plans on offering 1,000,000 shares at S1194 per share to the public. If it sells 100% of the shares, which is the better choice for Lunar Vacations? Which is the better choice for Astro Investment Bank? Under the best efforts arrangement, what are the proceeds for Lunar Vacations? (Round to the nearest dollar) 7 Han meelve this View AN AXAmnie Get more help Clear all Check