An investment bank pays 3530 per share for 48 million, Ask an Expert

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An investment bank pays $35.30 per share for 4.8 million shares of GM Company in a firm commitment stock offering. It then can sell those shares to the public for $34 per share. a. How much money does GM receive? (Enter your answer in dollars not in millions.) Amount received by GM $ b. What is the profit to the investment bank? (Enter your answer in dollars not in millions. Negative amount should be indicated by a minus sign. Do not round intermediate calculations.) Profit to the investment bank $ c. What is the stock price of GM? Stock price of GM $

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Financial Management, Finance

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