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How much net proceeds will westside market receive

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Reference no: EM132773842

Problem 1: Westside Market is offering 60,000 shares of stock to the public in a general cash offer. The offer price is $30 a share, and the underwriter's spread is 9 percent of that amount. The administrative costs are estimated at $310,000. How much net proceeds will Westside Market receive from this stock offering assuming the issue is completely sold?

Group of answer choices

Option 1: $1,370,800

Option 2: $1,328,000

Option 3: $1,490,000

Option 4: $1,638,000

Option 5:  $1,800,000

Reference no: EM132773842

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