An investment banker agrees to underwrite an issue of 10 million shares of stock for TWResearch,Inc.on a firm commitment basis.The investment banker pays $10.50 per share to TWResearch,Inc.for the 10 million shares of stock.It then sells those shares to the public for $11.20 per share.
-How much money does TWResearch receive?
A) $105,000,000.
B) $150,000,000.
C) $112,000,000.
D) $125,000,000.
Correct Answer:
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