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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

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<span>Big business views the natural resources as being the means to achieve their own business goals. They believe in exploit natural resources for their own needs. On the other hand, conservationists believe in preserving the natural resources and consider it an important source for human survival.</span>
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3 years ago
If, for a given percentage increase in price, quantity demanded falls by a proportionally smaller percentage, the demand is
nekit [7.7K]

Answer:

Option (D) is correct.

Explanation:

We know that there is a inverse relationship between the price of a good and its quantity demanded.

Relative inelastic demand refers to the demand where percentage change in the quantity demanded is relatively smaller than the percentage change in price of the good.

Relative inelastic demand curve is a demand curve which is relatively steeper in shape but not perfectly inelastic or vertical.

4 0
3 years ago
Which of the following is not included in the typical pattern of behavior for a poverty-stricken person? a. higher crime rate c.
Burka [1]

A person is poverty-stricken if they are considered to be very poor. A higher standard of living is not a typical pattern of behavior for a poverty-stricken person.

<h3>Who is poverty-stricken poverty?</h3>

A poverty-stricken person suffers from the effects of extreme poverty: Some beggars are impoverished and homeless.

There are few jobs for farmers who have moved to cities from poverty-stricken areas in search of work.

It is characterized by excessive indulgence,  low self-regulation, exploitation of others, and limited motivation and effort.

Therefore, Option C is the correct answer that is A higher standard of living is not a typical pattern of behavior for a poverty-stricken person.

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6 0
2 years ago
a conflict of interest in research could result when a physician is paid as a consultant for a pharmaceutical company and also c
Roman55 [17]

False, since both roles are in the capacity of research and does not compromise results. So there is no conflict of interest in research.

Conflicts of interest are situations in which professional judgments or actions regarding a primary concern, such as a medical researcher's responsibilities, may be easily persuaded by a secondary interest, such as monetary benefit or professional advancement.

Many doctors work full-time for biotech and pharmaceutical companies, as well as medical device manufacturers. They work in research, product development, or administration. In fact, a few of them own the businesses. This is not conflict of interest.

Learn more on conflict of interest-

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6 0
1 year ago
Strait Co. manufactures office furniture. During the most productive month of the year, 3,300 desks were manufactured at a total
Elza [17]

Answer:

Using the high-low method of cost estimation, total fixed costs are $47,020  

Explanation:

Cost at highest level of activity = $82,000.00

Cost at Lowest level of activity = $59,000.00

Highest level of activity = 3,300

Lowest Level of activity = 1,130

Variable cost per unit = $(82,000 - 59,000) ÷ (3,300 -1,130)  

Variable cost per unit = $23,000 ÷ 2,170  

Variable cost per unit = $10.60  

Fixed Costs = $82,000 - (3,300 × 10.60)  

Fixed Costs = $47,020  

6 0
3 years ago
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