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29 July, 12:50

Framingham Company wants to finance its expansion by selling 200,000 shares of stock at $35.20 each. The underwriting commission will be 5.5 percent of the value of the stock. Accounting, legal, and printing fees are $142,985. What is the total selling expense?

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  1. 29 July, 15:39
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    Given:

    200,000 shares fo stock at 35.20 each

    5.5% underwriting commission

    accounting, legal, and printing fees = 142,985

    200,000 x 35.20 = 7,040,000

    7,040,000 x 5.5% = 387,200

    underwriting commission: 387,200

    accounting, legal, and printing fees: 142,985

    total selling expenses: 530,185
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