The Meadows Corporation needs to raise $62 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds. If the offer price is $50 per share and the company’s underwriters charge a spread of 8 percent, how many shares need to be sold? (Do not round intermediate calculations and enter your answers in shares, not millions of shares, rounded to the nearest whole number, e.g., 1,234,567.)
a.
If you could get 1,300 shares in Woods and 1,300 shares in Koepka, what would your profit be? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
b.What profit do you actually expect? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)