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
Some laws prohibit discrimination in employment. These laws promote which of the following primary functions of​ law? A. promoti
Nostrana [21]

Answer:

A. promoting social justice

Explanation:

Discrimination in any manner is prohibited at all the public places, and work places are part of such places covered.

There cannot be any discrimination on the grounds of religion, color, gender, or by any other categorization.

In this manner, every individual is treated equally, irrespective of the background he or she belongs too.

This provides a social justice to every individual. In this manner the social status, personality is not hindered.

7 0
3 years ago
A specialist in the HR department is invited to promote the cybersecurity program in community schools. Which three topics would
vitfil [10]

Answer:

The answer is below

Explanation:

In a given situation like the one presented in the question, it is believed and expected that three topics in which the Human Resources specialist in the area of the cybersecurity program, would emphasize in the presentation to draw students to this field are the following:

1. It has a high earning potential

2. it is a career field in high demand

3. It is a service to humanity

4 0
3 years ago
How long will it take for a $4000 investment to grow to $6000 at an annual rate of 15%, compounded monthly? Assume that no withd
Inessa05 [86]

Answer:

It will take 2.72 years and 32.64 months.

Explanation:

Future value is the sum of principal amount and compounded interest amount invested on a specific rate for a specific period of time.

Use following formula to calculate the time period.

FV = PV x ( 1+ r )^n

FV = Future value = $6,000

PV = Present Value =  $4,000

r = rate of interest = 15% yearly = 15% / 12 = 1.25%

n = time period = ?

$6,000 = $4,000 x ( 1 + 1.25% )^n

$6,000 = $4,000 x ( 1.0125 )^n

$6,000 / $4,000 = ( 1.0125 )^n

1.5 = ( 1.0125 )^n

Log 1.5 = n log 1.0125

n = Log 1.5 / log 1.0125

n = 32.64 months

n = 2.72 years

6 0
3 years ago
Managers in international businesses will need to evaluate the attractiveness of a country as a market or location for a facilit
Morgarella [4.7K]

Answer:

a. True

Explanation:

A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or example to the employees working in an organization by being morally upright. Thus, he or she supervises and ensures his subordinates (employees) are working effectively and efficiently with the organization's goals and objectives.

Generally, managers working in international businesses are expected to evaluate the attractiveness of a country as a market or location for a facility or investment before going ahead to the endorse and approve it for any business having long-term plan, goals and objectives in mind.

Some examples of the factors a manager should look out for in determining the attractiveness of a country includes freedom of expression, government policies, power supply, taxation, ease of doing business, climate, etc.

3 0
3 years ago
According to dorn et al. (2008 a one percentage point increase in the national unemployment rate would increase enrollments in t
dusya [7]
The national unemployment rate would increase enrollments in the Medicaid and SCHIP programs by 1 million individuals and cause the number of uninsured to increase by 1.1 million. The budgetary challenges state governments would face if the economy will go into a recession is the rise of the number below the poverty line since unemployment and recession will result in poverty. 
7 0
3 years ago
Other questions:
  • Olde manufacturing, a parts supplier to the auto industry, has been using the behavioral approach to management for over 100 yea
    6·1 answer
  • In this module, you learned about the risks or costs associated with financial goals. What are the risks or costs associated wit
    13·1 answer
  • When underapplied or overapplied manufacturing overhead is prorated, amounts can be assigned to which of the following accounts?
    12·1 answer
  • Price discrimination is possible when a firm is able to​ ______.
    5·2 answers
  • Who is responsible for leading the Federal Government's response efforts to ensure that the necessary coordinating structures, l
    15·2 answers
  • The company's president is disappointed with the forecast and would like to see Swann generate higher sales and a forecasted net
    8·1 answer
  • on december 31 of last year, wolfson corporation had in inventory 450 units of its product, which costs $22 per unit to produce.
    14·1 answer
  • Effective service recovery entails all of the following EXCEPT _______. listening to the customer placing blame with the custome
    8·2 answers
  • A debit balance is the bank statement indicates?
    14·1 answer
  • If the fed wants to raise the federal funds rate by one-half of a percentage point, it should _____
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!