Smith Brothers- Inc-- sold 2 million shares in its IPO- at a price of.docx
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Smith Brothers, Inc., sold 2 million shares in its IPO, at a price of $18.00 per share. Management negotiated a fee (the underwriting spread) of 7% on this transaction. What was the dollar cost of this fee? The cost of the underwriter fees was $ million. (Round to two decimal places.) .
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