(Answered) Problem - flotation cost and issue sizeplease clearly label

Accounting

Problem - Flotation Cost and Issue Size

Please clearly label the calculation of the required ratios and solve using excel.

Your firm needs to raise $10 million. Assuming that flotation costs are expected to be $15 per share, and that the market price of the stock is $120, how many shares would have to be issued? What is the dollar size of the issue?

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