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The MEP company has issued 5,150,000 new shares. Its investment bank agrees to underwrite these shares on a best efforts basis. The investment bank is able to sell 4,350,000 shares for $53 per share

The MEP company has issued 5,150,000 new shares. Its investment bank agrees to underwrite these shares on a best efforts basis. The investment bank is able to sell 4,350,000 shares for $53 per share. It charges MEP $1.35 per share sold.

a.

How much money does MEP receive? (Do not round intermediate calculations.)

Amount received by MEP $
b.

What is the investment bank’s profit?

Investment bank’s profit $
c. What is the stock price of MEP?
Stock price of MEP $

May 19 2021 View more View Less

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