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Canadian Copper Stock Trades at $22

Question 71

Multiple Choice

Canadian Copper stock trades at $22.50 per share and there are 82 million shares outstanding.The management would like to raise $300 million in an SEO and current investors would like to sell $40 million of their own stock.If the underwriter charges 5% of gross proceeds,how many shares must it sell in the total (primary and secondary) offering?


A) 15.9 million
B) 14 million
C) 15.1 million
D) 14.4 million
E) 14.7 million

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