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Nelsons Metallurgy needs $1.36 million to fund an expansion project. The firm has decided to raise the funds through a negotiated offering. The terms of
Nelsons Metallurgy needs $1.36 million to fund an expansion project. The firm has decided to raise the funds through a negotiated offering. The terms of the offer include an offer price of $22.50 a share and an underwriting spread of 8.1 percent. How many shares must the firm sell in order to raise the funds it needs?
A. | 65,772 |
B. | 81,414 |
C. | 65,340 |
D. | 81,200 |
E. | 55,915 |
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