A recent offering of Talmot Corporation stock was underwritten by Advantage Securities. The terms were: Price to public $10 per share and 10 million shares. Proceeds to the company depend on the price per share and how many shares are sold. The investment banker incurred expenses of $1.5 million and the company incurred expenses of $1 million. This is an example of a
a.) Best efforts deal
b.) Hybrid deal
c.) Negotiated deal
d.) Not enough information to determine
e.) none of the above