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Problem 13.21 Deere and Bros. is a broker that brings new issues of small firms to the public market. Its most recent deal for Dextra,

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Problem 13.21 Deere and Bros. is a broker that brings new issues of small firms to the public market. Its most recent deal for Dextra, Inc., had the following characteristics: Number of shares: 1,000,000 Proceeds to Dextra: 12,370,000 Price to public: $19 per share The legal fees were $150,000, printing costs were $57,000, and all the other expenses were $71,500. What is the profit or loss for Deere and Bros.? Profit/ (Loss) $

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