Cranjet Inc. is issuing 10,000 bonds, and its investment banker has guaranteed a price of $974 per bond. The investment…
Cranjet Inc. is issuing 10,000 bonds, and its investment banker has guaranteed a price of $974 per bond. The investment banker sells the entire issue to investors for $10,200,000. (Round percentage underwriting cost to 2 decimal places, e.g. 17.54%.) a. What is the underwriting spread for this issue? $ b. What is the percentage underwriting cost? % c. How much did Cranjet raise? $
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