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How much net proceeds will westside market receive

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Question - 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?

a. $1,370,800

b. $1,328,000

c. $1,490,000

d. $1,638,000

e. $1,800,000

Reference no: EM132780379

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