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Wyatt Oil has 8 million shares outstanding and is about to issue 10 million new shares in an IPO. The IPO price has been set

Wyatt Oil has 8 million shares outstanding and is about to issue 10 million new shares in an IPO. The IPO price has been set at $15 per share, and the underwriting spread is 6%. The IPO is a big success with investors, and the share price rises to $35 on the first day of trading. The amount that Wyatt Oil pays as an underwriting spread is closest to: Group of answer choices $9 million. $7million $21million $17million $6million

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