How much money does mep receive what is the stock price of, Financial Management

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How much money does mep receive what is the stock price of

The MEP company has issued 5,090,000 new shares. Its investment bank agrees to underwrite these shares on a best efforts basis. The investment bank is able to sell 4,290,000 shares for $54 per share. It charges MEP $1.70 per share sold.

a. How much money does MEP receive? (Do not round intermediate calculations.)

Amount received by MEP $

b. What is the investment bank’s profit?

Investment bank’s profit $

c. What is the stock price of MEP?

Stock price of MEP $

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