What is the profit to investment bank

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Reference no: EM132061734

An investment bank pays $33.60 per share for 4.1 million shares of GM Company in a firm commitment stock offering. It then can sell those shares to the public for $32 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 $

Reference no: EM132061734

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