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On January​ 20, Metropolitan ​Inc., sold 10 million shares of stock in an SEO. The current...

On January​ 20, Metropolitan ​Inc., sold 10 million shares of stock in an SEO. The current market price of Metropolitan at the time was $ 42.00 per share. Of the 10 million shares​ sold, 6 million shares were primary shares being sold by the​ company, and the remaining 4 million shares were being sold by the venture capital investors. Assume the underwriter charges 5 % of the gross proceeds as an underwriting fee.​ (which is shared proportionately between primary and secondary​ shares).

a. How much money did Metropolitan ​raise?   round to one decimal

b. How much money did the venture capitalists​ receive? round to two decimal

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jeff jeffy answered 1 year ago
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