What is the profit to the investment bank

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Reference no: EM131924418

XYZ, Inc., has issued 13 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 10.3 million shares for $29 per share, and it charges XYZ $0.770 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 $

Reference no: EM131924418

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