Question $16$

The Abu Dhabi investment bank agrees to underwrite an issue of $20$ million shares of stock for Emaar properties. On a firm commitment basis. Abu Dhabi investment bank pays AED$10\mathrm{.}50$ per share to Emaar properties, for the $20$ million shares of stock. It then sells those shares to the public for AED$11\mathrm{.}20$ per share.

How much money does Emaar properties receive?

$434,000,000$ AED

$14,000,000$ AED

$242,000,000$ AED

$210,000,000$ AED