For #28, its 1840 shares

27 Ally's Sailboats has decided to take the common stock to the public. The firm has hired an underwriter who arranges a full commitment underwriting and suggests an initial selling price of $25 a share with a 5 percent gross spread. As it turns out, the underwriters only sell 97,400 shares. How much cash will Aaron's Sailboats receive ake the company public by offering a total of 120,000 shares of from its first public offering? A. $2,727,200 B. $2,435,000 C. $2,790,000 D. $2,850,000 E. $3,000,000 28. Miller Motors, Inc. has decided to sell 1,800 shares of stock through a Dutch auction. The bids received are as follows: Bidder Quantity Price $24 $23 $21 $20 $19 400 300 1,000 1,500 2,900 How much will Miller Motors receive in total from selling the 1,840 shares? Ignore all transaction and flotation costs. A. $30,400 B. $33,400 C. $36,000 D. S36,800 E. S38,640