Question
The Fitness Studio, Inc. with the help of its investment bank, recently issued $43.195 million of new debt. The offer price (and face value) on
The Fitness Studio, Inc. with the help of its investment bank, recently issued $43.195 million of new debt. The offer price (and face value) on the debt was $1,000 per bond and the underwriter's spread was 5 percent of the gross proceeds.
Calculate the amount of capital funding The Fitness Studio raised through this debt offering.(Enter your answer in dollars not in millions.)
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
