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Calculate the underwriter spread in dollars

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DiPitro's Paint and Wallpaper, Inc. needs to raise $1.344 million of common stock to finance plant expansion. In discussions with its investment bank, DiPitro's learns that the bankers recommend a gross price of $37 per share and that 42,000 shares of stock be sold. The net proceeds on the stock sale leaves DiPitro's with $1.344 million.

Calculate the underwriter's spread in dollars per share on the stock issue. (Round your answer to 3 decimal places.)

Calculate the underwriter's spread in percentage on the stock issue. (Round your answer to 2 decimal places.)

Reference no: EM132715703

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