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The MEP company has issued 5,050,000 new shares. Its investment bank agrees to underwrite these shares on a best efforts basis. The investment bank is

The MEP company has issued 5,050,000 new shares. Its investment bank agrees to underwrite these shares on a best efforts basis. The investment bank is able to sell 4,250,000 shares for $57 per share. It charges MEP $1.50 per share sold.

a. How much money does MEP receive?

b. What is the investment banks profit?

c. What is the stock price of MEP?

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