The market value of the marketing research firm fax facts, Financial Management

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The market value of the marketing research firm fax facts

The market value of the marketing research firm Fax Facts is $450 million. The firm issues an additional $150 million of stock, but as a result the stock price falls by 2%. What is the cost of the price drop to existing shareholders as a fraction of the funds raised? (Enter your answer in millions.)

Cost of the price drop $ million

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