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XYZ, Inc., has issued 13 million new shares of stock. An investment bank agrees to underwrite these shares on a best efforts basis. The investment

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XYZ, Inc., has issued 13 million new shares of stock. An investment bank agrees to underwrite these shares on a best efforts basis. The investment bank is able to sell 10.3 million shares for $29 per share, and it charges XYZ $0,770 per share sold. a. How much money does XYZ receive after commission? b. What is the profit to the investment bank? c. What is the stock price of XYZ

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