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Shanos Inc. would like to finance an experimental cost-saving procedure by issuing new common stock. The corporations existing common stock currently sells for $49.74. Management believes that they can issue new common stock at this price, incurring flotation costs of 5.53% of the current market price. What is the stocks net market price (net proceeds)? Submit your answer as a dollar amount and round your answer to two decimal places.
Shanos Inc. would like to finance an experimental cost-saving procedure by issuing new common stock. The corporations existing common stock currently sells for $45.07 Management believes that they can issue new common stock at this price, incurring flotation costs of 7.61 % of the current market price. What is the stocks net market price (net proceeds)? Submit your answer as a dollar amount and round your answer to two decimal places.
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