An investment banker agrees to a best efforts offering of, Financial Management

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An investment banker agrees to a best efforts offering of

An investment banker agrees to a best efforts offering of 2.5 million of shares of Crew stock. The offer price is set at $35 per share. If the stock is actually sold to the public at $34.50 and the banker charges a 3.45 cent commission per share sold, what is the amount of funds Crew receives? (ignore any other fees or expenses)

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