XYZ, Inc. has issued 12 million new shares of stock. An investment bank agrees to underwrite these shares on a best efforts basis. The investment bank is able to sell 9.6 million shares for $22 per share, and it charges XYZ $0.710 per share sold. How much money does XYZ receive?
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Home » Business » XYZ, Inc. has issued 12 million new shares of stock. An investment bank agrees to underwrite these shares on a best efforts basis. The investment bank is able to sell 9.6 million shares for $22 per share, and it charges XYZ $0.710 per share sold.