Calculate the gross proceeds per share received by turbo

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Reference no: EM132033380

Turbo Technology Corp. recently went public with an initial public offering of 3.08 million shares of stock.

The underwriter used a firm commitment offering in which the net proceeds was $7.90 per share and the underwriter's spread was 7 percent of the gross proceeds. Turbo also paid legal and other administrative costs of $280,000 for the IPO.

Calculate the gross proceeds per share received by Turbo from the sale of the 3.08 million shares of stock.

Reference no: EM132033380

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