QUESTION 21 An investment banker agrees to underwrite an issue of 10 million shares of stock for Rochester Industries on a best-efforts basis. The investment banker is able to sell 8 million shares for $10.50 per share, and it charges Rochester Industries 80.225 per share sold. What is the profit to the investment banker if it is able to sell 8 million shares for $10.50 per share? Loss of $7,000,000 Profit of $1,000,000 Profit of $1,800,000 Profit of $7,000,000 Loss of $7,500,000