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Textron Inc. issued 5 0 0 , 0 0 0 shares of common stock through investment bankers. The stock sold to the public for $

Textron Inc. issued 500,000 shares of common stock through investment bankers. The stock sold to the public for $35 a share, but Textron received $33.25 a share. Textrons out-of-pocket costs equaled $225,000.
a. Calculate Textrons total flotation costs in dollars.
b. Calculate Textrons total flotation costs as a percentage of gross proceeds (selling price).
c. Calculate Textrons total flotation costs per share of stock issued.

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