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Firm X needs to net $9,000,000 from the sale of common stock. Its investment banker has informed the firm that the retail price will be
Firm X needs to net $9,000,000 from the sale of common stock. Its investment banker has informed the firm that the retail price will be $23 per share, and that the firm will receive $20.00 per share. Out-of-pocket costs are $300,000. How many shares must be sold? (Round your answer to nearest whole number.) |
A. 480,000
B. 460,000
C. 470,000
D. 465,000
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