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Question: pawprints paint recently went public in a best efforts offering...

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Pawprints Paint recently went public in a best efforts offering. The company offered 105,000 shares of stock for sale at an offer price of $45 per share. The administrative costs associated with the offering were $345,000 and the underwriter's spread was 7 percent. After completing their sales efforts, the underwriters determined that they sold a total of 100,100 shares. What were the net proceeds to the company? Multiple Choice $3,844,185 $4,189,185 $3,704,250 $3,499,185 $4,049,250

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