Answered step by step
Verified Expert Solution
Link Copied!

Question

00
1 Approved Answer

The Telwar Company has just gone public. Under a firm commitment agreement, the company received $ 3 2 . 3 0 for each of the

The Telwar Company has just gone public. Under a firm commitment agreement, the company received $32.30 for each of the 4.13 million shares sold. The initial offering price was $34.70 per share, and the stock rose to $41.60 per share in the first few minutes of trading. The company paid $908,000 in legal and other direct costs and $256,000 in indirect costs.
What is the net amount raised?
Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g.,1,234,567.
Net amount raised
What are the total direct costs?
Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g.,1,234,567.
Direct costs
image text in transcribed

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access with AI-Powered Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started