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An investment bank agrees to underwrite an issue of 50 millionshares of stock for Looney Landscaping Corp.The investment bank underwrites the stock on a firm commitmentbasis, and agrees to pay $25.4 per share to Looney landscapingcorp. for the 50 million shares of stock. The investmentbank then sells those shares to the public for $28.6 pershare. How much money does Looney Landscaping Corp.receive? What is the profit to the investmentbank? If the investment bank can sell the shares foronly $22.45, how much money does Looney Landscaping Corp.receive? What is the profit to the investment bank?Suppose, instead, that the investment bank agrees to underwritethe 50 million shares on a best efforts basis. Theinvestment bank is able to sell 48.5 million shares for $25.4 pershare, and it charges Looney landscaping Corp. $0.275 per sharesold. How much money does Looney Landscaping Corp.receive? What is the profit to the investmentbank? If the investment bank can sell the shares foronly $23.80 how much money does Looney Landscaping Corp.receive? What is the profit to the investment bank? (6points)