Question

Universal Waste Disposal sold 1,350,000 shares of stock at $24.62 per share. The investment banker's commission was 5% of the value of the stock. Accounting fees were $450,000, legal fees were $1,225,000, printing costs were $275,000, and other selling expenses were estimated to be $300,000. To the nearest dollar, what net proceeds did Universal Waste Disposal receive?

Answer 1

In total, the money they got was 1.350.000*24.62=33.237.000$ . 5% of it was given to the investment banker; so UWD keeps 95% of it. 95% * 33.237.000= 31.575.150$. The total costs were 1.225.000+450.000+275.000+300.000=2.250.000$
We need to take the difference of these 2 to calculate the net gain. This gain is 29.325.150$ .