(Please select answer and explain reason for answer.)

A recent offering of Talmot Corporation stock was underwritten by Advantage Securities.The terms were: Price to public $10 per share and 10 million shares.Proceeds to the company depend on the price per share and how many shares are sold.The investment banker incurred expenses of $1.5 million and the company incurred expenses of $1 million.This is an example of a

a.) Best efforts deal

b.) Hybrid deal

c.) Negotiated deal

d.) Not enough information to determine

e.) none of the above