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Investment Banking: Cranjet Inc. is issuing 10,000

Investment Banking: Cranjet Inc. is issuing 10,000 bonds, and its investment banker has guaranteed a price of $985 per bond. The investment banker sells the entire issue to investors for $10,150,000.a. What is the underwriting spread for this issue?b. What is the percentage underwriting cost?c. How much did Cranjet raise?

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