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How much will the investment banker receive

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Question 1: A company is planning an IPO of 10 million shares. Each share is expected to sell at $20 per share. The investment banker will charge a 7% spread and incur expenses of $1,000,000. The company will incur expenses of $500,000. How much will the investment banker receive if all shares sell at the expected price?

Reference no: EM132493291

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