Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Phoebe owns 2 0 0 shares in Optus Inc. Optus has 5 0 million shares outstanding that are trading at $ 3 each. Due to

Phoebe owns 200 shares in Optus Inc. Optus has 50 million shares outstanding that are trading at $3 each. Due to a liquidity crisis, Optus decides to place 15 million shares to a group of hedge funds at $2 each. How much money did Phoebe lose due to this private placement, based only on the information above? (round to the nearest 2 digits)
Group of answer choices
$46.00
$40.00
$42.00
$52.00
None of the other answers are correct.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

The Repo Handbook

Authors: Moorad Choudhry

1st Edition

0750651628, 978-0750651622

More Books

Students also viewed these Finance questions

Question

How do you handle stress or pressure on the job?

Answered: 1 week ago