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Wright Brothers, Inc., sold 3 million shares in itsIPO, at a price of $ 17.25 per share. Management negotiated a fee(the underwritingspread) of 9% on

Wright Brothers, Inc., sold 3 million shares in itsIPO, at a price of $ 17.25 per share. Management negotiated a fee(the underwritingspread) of 9% on this transaction. What was the dollar cost of thisfee?

The cost of the underwriter fees was $___?_____ million

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