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  • May 19, 2010, 01:07 PM
    raidersmooney
    Shares of stock sell to meet cash needs
    Phillip's Manufacturing wants to raise $15million to open a new production center. The company estimates the issue costs including the legal and accounting fees will be $530,000. The underwriters have set the stock price at $23 a share and the underwriting spread at 8.5 percent. How many shares of stock does Phillip's have to sell to meet their cash need?
  • May 23, 2010, 11:22 PM
    morgaine300

    Ditto what I said about reading our guidelines for posting homework.

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