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How much cash will DEF Company raise in the following situation the underwriter has sold 50,000 shares at an IPO price of $50, the

  

How much cash will DEF Company raise in the following situation the underwriter has sold 50,000 shares at an IPO price of $50, the gross underwriting spread is 5% the legal fees is 70,000 the share price at the end of the first trading day is $60

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