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Issues of shares for JNC company

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Problem 4-10

An investment banker pays $23.50 per share for 4,000,000 shares of JNC Company. It sells those shares to the public for $25 per share.

a) How much money does JNC receive?
b) What is the profit to the investment banker?
c) What is the stock price of JNC?
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Solution Summary

The money raised by the company and the profit to the investment banker are calculated.

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An investment banker pays $23.50 per share for 4,000,000 shares of JNC Company. It sells those shares to the public for $25 per ...

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