Kurt currently owns 4.2 percent of NT Co. The company has a total of 685,000 shares outstanding with a current market price of $19.20 a share. At present, the firm is offering an additional 15,000 shares at a price of $18 a share. Kurt decides not to participate in this offering. What will his ownership position be after the offering is completed?
A) 4.06 percent
B) 4.11 percent
C) 4.19 percent
D) 4.14 percent
E) 4.26 percent
Correct Answer:
Verified
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