Firm x needs to net 7700000 from the sale of common stock, Finance Basics

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Firm x needs to net 7700000 from the sale of common stock

Question: Firm X needs to net $7,700,000 from the sale of common stock. Its investment banker has informed the firm that the retail price will be $23 per share, and that the firm will receive $20.00 per share. Out-of-pocket costs are $300,000. How many shares must be sold? (Round your answer to nearest whole number.)

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Finance Basics: Firm x needs to net 7700000 from the sale of common stock

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Finance Basics: Firm x needs to net 7700000 from the sale of common stock

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