BUS 401 Week 4 Assignment Flotation Costs and Issue Size (D. Butler Inc)

This archive file of BUS 401 Week 4, Assignment, Flotation Costs and Issue Size(D. Butler Inc) comprises:

(Flotation cost and issue size) D. Butler Inc. needs to raise 14 million. Assuming that the market price of the firm’s stock is $95, and flotation cost are 10% of the market price, how many shares would have to be issued? and what is the dollar size of the issue?