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Gallagher Corp. will issue 300, 000 shares at a retail (public) price of $40. The company will receive $37.90 per share and incur $160,000

Gallagher Corp. will issue 300, 000 shares at a retail (public) price of $40. The company will receive $37.90 per share and incur $160,000 in out-of-pocket expenses. A) What is the percentage spread? B) What percentage of the total value of the issue (based on the retail price) are the out-of-pocket costs?

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