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Question
An investment banker agrees to underwrite an issue of 10 million shares of stock for TWResearch, Inc. on a firm commitment basis. The investment banker pays $10.50 per share to TWResearch, Inc. for the 10 million shares of stock. It then sells those shares to the public for $11.20 per share.
If the investment bank can sell the shares for $9.75 per share, how much money does TWResearch receive?
A. $105,000,000.
B. $150,000,000.
C. $112,000,000.
D. $125,000,000.
E. $110,000,000.
Answer
This answer is hidden. It contains 99 characters.
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