Neutrino Industries stock trades at $48 per share and there are 120 million shares outstanding.The management would like to raise $400 million in an SEO.If the underwriter charges 6% of gross proceeds,how many shares must it sell?
A) 8.33 million
B) 8.40 million
C) 8.68 million
D) 8.87 million
Correct Answer:
Verified
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