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A company is offering 5,000,000 new shares to the public. The shares are being sold...

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Finance

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A company is offering 5,000,000 new shares to the public. The shares are being sold to a syndicate for $12 and are being re-offered to the public at $13. The compensation to the underwriters for each share sold is $0.75. The selling group receives $0.30 a share for each share it sells, and the managing underwriter retains $0.25 in fees for each share sold by anybody. The selling group will assist in selling 1,000,000 out of the 5,000,000 shares offered. How much does the company raise from this offering? $65,000,000 $5,000,000 $60,000,000 $80,000,000

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