An investment banker agrees to underwrite an issue of 5 million shares of stock for NetChoice, Inc. on a firm commitment basis. The investment banker pays $31.50 per share to NetChoice, Inc. for the 5 million shares of stock. It then sells those shares to the public for $30.00 per share.
-How much money does NetChoice,Inc.receive?
A) $150,000,000.
B) $157,500,000.
C) $112,000,000.
D) $125,000,000.
Correct Answer:
Verified
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