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Hello need help with solving the following question please provide all steps and show work clearly Will leave rating for correct answer with clear work
Hello need help with solving the following question please provide all steps and show work clearly
Will leave rating for correct answer with clear work
In its IPO, 1 million company shares were issued at a price of $25 per share. The underwriter's fee for the offering was 8% of gross proceeds and the issuer incurred direct out-of-pocket costs of $400,000. In the aftermarket on the first day of trading the closing share price was $30. What was the total issue cost as a percent of the issuers proceeds net of all costsStep by Step Solution
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