Problem 15.9 Underwriting spread (LO15-2) Walton and Company is the managing Investment banker for a major new underwriting. The price of the stock to the investment banker is $26 per share. Other syndicate members may buy the stock for $28.25. The price to the selected dealers group is $29.80, with a price to brokers of $31.20. Finally, the price to the public is $32.50, 0. If Walton and Company sells its shares to the dealers group, what will the percentage return be? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Return 12 89% b. If Walton and Company performs the dealer's function also and sells to brokers, what will the percentage return be? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Return c. If Walton and Company fully integrates its operation and sells directly to the public what will its percentage retum be? (Do not round Intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) Return