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    raidersmooney's Avatar
    raidersmooney Posts: 2, Reputation: 1
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    #1

    May 19, 2010, 01:07 PM
    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?
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
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    #2

    May 23, 2010, 11:22 PM

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