A company sells 2 million shares at $11.50/share to the financing group which sells them...
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A company sells 2 million shares at $11.50/share to the financing group which sells them to the banking group for $12.00/share. The lead underwriter receives a fee of $0.50 per share. The shares are sold to the public for $14.00/share. Calculate the amount of proceeds the company will receive. What is the total underwriting cost? (Show your work)
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