What is profit to investment bank

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Reference no: EM131999479

XYZ, Inc., has issued 11 million new shares of stock. An investment bank agrees to underwrite these shares on a best efforts basis. The investment bank is able to sell 9.9 million shares for $26 per share, and it charges XYZ $0.755 per share sold. a. How much money does XYZ receive after commission? (Enter your answer in dollars not in millions. Do not round intermediate calculations.) Net proceeds after commission $ b. What is the profit to the investment bank? (Enter your answer in dollars not in millions. Do not round intermediate calculations.) Profit to the investment bank $ c. What is the stock price of XYZ? Stock price of XYZ $ ReferenceseBook & Resources.

Reference no: EM131999479

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