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"ABC Corporation stock is being sold in a primary offering. The total offering is $10,000,000, of which $7,000,000 is allocated to the syndicate and $3,000,000 is allocated to the selling group. The public offering price is set at $10.00 per share. The issuer received $9.00 per share from the underwriters. The management fee has been set at $.10 per share; the selling concession is $.30 per share. The issuer will receive:"

Respuesta :

abiolataiwo2015

Answer:

$9,000,000

Explanation:

Calculation for the amount that the issuer will receive

Using this formula

Issuer Amount received = Amount the issuer received per share from the underwriter × The total offering

Let plug in the formula

Issuer Amount received =9.00 per share x $10,000,000

Issuer Amount received= $9,000,000

Therefore the Issuer Amount received will be $9,000,000

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