A firm conducting an IPO of common stock sold 1 million new shares in the offering at an offer price of $10 per share.After the offering,the firm had 5 million shares outstanding,and the price of those shares in the secondary market was $12.The total proceeds from the firm's IPO were ________.
A) $60 million
B) $50 million
C) $10 million
D) $12 million
Correct Answer:
Verified
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