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nelson paints recently webt public by offering 65,000 shares of common stock to the public. The underwritiers provided their services in a best efforts underwriting.
nelson paints recently webt public by offering 65,000 shares of common stock to the public. The underwritiers provided their services in a best efforts underwriting. The offering price was set at $16 a share and the gross spread was $2. After completing their sales efforts, the underwriters determined that they sold a total of 57,500 shares. How much cash did Nelson Paints receive from its IPO?
A.805000
B. 910000
C.920000
D.1035000
E.1040000
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