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 = 
Gross Proceeds = $8.23 per share
Answer:
B.
Explanation:
You do not need collateral to be given an unsecured loan.
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