XYZ company bought a piece of equipment for $48,000 which has a salvage value of $4000. The company uses the declining balance method at a rate of 40%. What was the net value of the machine on the companys balance sheet at the end of year 2? $21,280 $15,840 $28,800 $17,280

Acme Corporation sells 1 million shares at $27.50 per share to a financing group. The financing group sells the shares to the banking group for $28.00 per share. The lead underwriter receives a fee of $0.50 per share. The shares are sold to the public for $30.00 per share. Calculate the amount of proceeds the Acme will receive.

		$30 million
		$28 million
		$27 million
		$27.5 million