1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
igomit [66]
3 years ago
10

Turbo Technology Corp. recently went public with an initial public offering of 3.03 million shares of stock. The underwriter use

d a firm commitment offering in which the net proceeds was $7.65 per share and the underwriter's spread was 7 percent of the gross proceeds. Turbo also paid legal and other administrative costs of $230,000 for the IPO. Calculate the gross proceeds per share received by Turbo from the sale of the 3.03 million shares of stock.(A) $7.73(B) $7.65(C) $8.23(D) $8.31
Business
1 answer:
Leokris [45]3 years ago
7 0

Answer:

$8.23 per share

Explanation:

Total funds received by Turbo = (3.03 million shares x $ 7.65 per share) - $230,000

= $23,179,500 - $230,000 = $22,949,500

Gross Proceeds = Net Proceeds + Underwriter's Spread  

Gross Proceeds = (Gross Proceeds * 0.07) + $7.65 per share

(Gross Proceeds – 0.07 Gross Proceeds) = $7.65 per share

Factorize gross proceeds mathematically to get

Gross Proceeds (1-0.07) = $7.65 per share

Gross Proceeds (0.93) = $7.65 per share

Gross Proceeds = \frac{7.65}{0.93}

Gross Proceeds = $8.23 per share

You might be interested in
Importance of the study of organisational buyer behaviour to the personal selling function​
ladessa [460]

Answer:

The answer is below

Explanation:

The importance of the study of organizational buyer behavior to the personal selling function​ is that the personal seller can easily realize the expectation of the organizations.

It also assists in determining what makes organizations buy a certain product.

It gives the seller the proper ideas on the type of products preferred by organization buyers such that they can quickly make them available.

It also ensures the seller understands how the organization buyer operates in terms of payments, quality, quantity, and the purpose in which they are buying.

4 0
3 years ago
Type the correct answer in the box. Spell all words correctly.
stealth61 [152]

The name which is given to the session that is a continuous discussion to <em>bring out</em> innovative ideas from employees is called:

  • <u>Brainstorming</u>

According to the given question, we are asked to state the  name which is given to the session that is a continuous discussion to <em>bring out</em> innovative ideas from employees.

As a result of this, we can see that when a group of workers sit down together to bring out a new idea that would be innovative  to their company, then we can say that they are brainstorming because they bring ideas that would improve overall business and profit

Read more here:

brainly.com/question/20482811

7 0
2 years ago
General Widget partnership assets amount to $34,000 after liquidation. Frank, Gene, and Hank, equal partners, each contributed $
maks197457 [2]

Answer:

$7,000

Explanation:

Balance to be distributed = Assets amount after liquidation - Creditor - Gene loan to the business

Therefore,

Balance to be distributed = $34,000 - $23,000 - $5,000 = $6,000

Since there is no agreement among the partners regarding the distribution of profits, the amount to be distributed will be shared equally for each partners as follows:

Each partner's of the amount to be distributed = $6,000/3 = $2,000

Amount received by Gene = Loan amount from + Distributed balance share

                                             = $5,000 + $2,000

Amount received by Gene = $7,000

Therefore, Gene gets $7,000 in distribution.

8 0
3 years ago
Martin is offered an investment where for $6000 today, he will receive $6180 in one year. He decides to borrow $6000 from the ba
Effectus [21]

Answer:

maximum interest rate = 3%

so correct option is A) 3%

Explanation:

given data

investment = $6000

receive = $6180

borrow = $6000

to find out

maximum interest rate bank needs to offer on the loan

solution

we consider here maximum interest rate bank needs to offer is = r

so value of investment will be express here as

value of investment = amount to be borrowed × ( 1 + r )    ................1

put here value we get rate r

6180 = 6000 × ( 1 + r )

solve it we get

rate = 0.03

maximum interest rate = 3%

so correct option is A) 3%

3 0
3 years ago
The purchaser of a tbond futures contract priced at 101-16 at the time of the sale agrees to deleiever 100,000 facevalue treasur
jek_recluse [69]

Answer:

The answer is "True".

Explanation:

Please find the complete question in the attached file.

It implies that its price of the bond is 101-16, which is to say

\to 101 + \frac{16}{32}\\\\\to  \frac{3232+ 16}{32} \\\\\to  \frac{3248}{32} \\\\\to 101.5

Each bond is thus stated as 101.5 \% face value

\to 101.5\% \times 100,000 \\\\\to 101,500.00

That's why this statement is true.

5 0
3 years ago
Other questions:
  • Rob, Bill, and Steve form Big Company. Rob performs $45,000 of services for his 45 shares of the company. Bill transferred prope
    9·1 answer
  • A customer opens an account at a brokerage firm to purchase securities in an offering. The customer must receive the disclosure
    8·1 answer
  • How do property rights benefit entrepreneurs?
    14·2 answers
  • sam bought 6 cookies from a bake sale for $3.00. how much did each cookie cost? how much would it cost to buy 10 cookies?
    14·2 answers
  • Hect the best answer for the question
    8·1 answer
  • Jody’s boss has asked her to inform her coworkers about a change in the company’s policy regarding the dress code. To convey thi
    9·1 answer
  • The fixed cost element of a mixed cost is the cost of having a service available. true
    9·1 answer
  • At the time the $400 petty cash fund is being replenished, the company's accountant finds vouchers totaling $350 and petty cash
    13·1 answer
  • Suppose that Ava withdraws $300 from her savings account at Second Bank. The reserve requirement facing Second Bank is 10%. Assu
    12·1 answer
  • Which of the following is not an form of money that was traded
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!