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
Think of a situation when you received a bad news with direct pattern (without any buffer). How did you react in that situation?
Dahasolnce [82]
Bajáis s and sjsisiejen ejejd
5 0
3 years ago
Read 2 more answers
No entries shall be allowed for district meets which are not submitted to the director on or before the ____ day before the firs
allochka39001 [22]

No entries shall be allowed for district meets which are not submitted to the director on or before the fifth day before the first day of the meet.

<h3><u>What is the role of a director?</u></h3>
  • An organization's directors play a crucial role in governance on behalf of its shareholders or members.
  • The legal obligations that each Director must uphold during their tenure are outlined in various pieces of legislation. However, Directors are also held personally responsible for exceeding 700 more laws and legal standards.
  • Each director must acknowledge and support the following standards of conduct:
  • To accept personal accountability for contributing objectively and without regard to one's own interests to the Board's choices.
  • To proactively seek out sufficient knowledge about the organization's operations.
  • To constructively contribute to the formulation of pertinent organizational policies.
  • To give the organization's long-term strategies solid support.

In order to encourage good governance and guarantee that each director acts in the interests of the company's stakeholders, the legally based director duties were created. 

Know more about Directors with the help of the given link:

brainly.com/question/14279294

#SPJ4

8 0
2 years ago
As a manager seeks to develop her leadership skills, she should be aware that:
avanturin [10]

Answer:

b. Many different styles of leadership can be effective.

Explanation:

Leadership is the ability of a person to motivate others to deliver on set goals and objectives.

Depending.on the organisation, the goals to be achieved, needs of the followers, and the personality of the leader.

There are different leadership styles that are all effective depending on the situation

Authoritative leaders states the way things should be done with little input from the team.

Democratic leadership is when the leader gets feedback from the team and uses it to make decisions.

Free rein is when the leader allows the team do what they like in achieving goals.

Task oriented leadership focuses mainly on the task at hand.

7 0
4 years ago
In year 1 the average price of X is $10, and in year 2 the average price of X is $23. If consumers buy more units of X in year 2
xeze [42]

Answer:

D

Explanation:

Normal goods are goods that are goods whose demand increases when income increases and falls when income falls

If good X is a normal good and the consumers income increases, the demand for good X would increase

It would have been that the Law of demand not supply that didn''t hold

according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

8 0
3 years ago
Tom rented an apartment from margaret on a month-to-month basis, with rent due on the first of the month. this type of tenancy i
Alborosie
False. 

This is a periodic tenancy because Tom, as the tenant, may rent the apartment for successive periods under his lease, despite being "month-to-month." A tenancy at will, however, allows either the landlord or the tenant to terminate the arrangement at any time because there is more flexibility in the arrangement.

One key difference is the issue of the tenant's notice to vacate the apartment. Under periodic tenancy, the law typically requires the tenant to give at least one period (here, one month) notice to the landlord of the tenant's wish to leave the property. No such notice requirement is typically found within a tenancy at will. 
3 0
3 years ago
Other questions:
  • Standlar Company makes wireless speakers. The standard model price is $360 and variable expenses are $210. The deluxe model pric
    7·1 answer
  • Select the four common tools managers use to analyze competitive intelligence and develop competitive advantages. a. The three g
    14·2 answers
  • In a command economy:_______
    15·1 answer
  • Jan and Kyle sign a contract that provides if a dispute arises, they will submit to arbitration. A dispute arises, but before it
    8·1 answer
  • Historically, the best asset for the long-term investor wanting to fend off the threats of inflation and taxes while making his
    6·1 answer
  • Ellen Carson’s sales for 5 months were $26,908, $28,386, $28,730, $27,290, and $29,009. What must be her sales next month if she
    12·1 answer
  • What are The two segments of the organization's environment
    13·1 answer
  • Which doctor was the first to read the patient's chart in grey's anatomy
    8·2 answers
  • Gidgits Galore has been busy during this lesson continuing its expansion plans throughout the United States. After all, everyone
    7·1 answer
  • What is expected to be a key challenge for managers as they prepare for the twenty-first century and beyond?
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!