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Wyatt Oil has 3 million shares outstanding and is about to issue 5 million new shares in an IPO. The IPO price has been set

Wyatt Oil has 3 million shares outstanding and is about to issue 5 million new shares in an IPO. The IPO price has been set at $17 per share, and the underwriting spread is 5%. The IPO is a big success with investors, and the share price rises to $34 the first day of trading. 1) The amount that The market value of Wyatt Oil after the IPO is closest to: (The answer on my screen is 234. 56 - That is the format)

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