Determine securities profit

Reference no: EM1352321

LaJolla Securitites Inc. specializes in the underwriting of small companies. The terms of a recent offering were as follows:

Number of shares 2 million
Offering Price $25 per share
Net proceeds $45 million

LaJolla Securities expenses, associated with the offering, were $500,000. Determine LaJolla Securities profit on the offering if, immediately after the offering begain, the secondary market price of each share was as follows:

a. $23 per share
b. $25 per share
C. $28 per share

Reference no: EM1352321

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