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Problem 3.1 (a) DRK, Inc., has just sold 90,000 shares in an initial public offering. The underwriters explicit fees were $54,000. The offering price for

Problem 3.1 (a) DRK, Inc., has just sold 90,000 shares in an initial public offering. The underwriters explicit fees were $54,000. The offering price for the shares was $62, but immediately upon issue, the share price jumped to $67.00.

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