LaJolla Securities Inc. specializes in the underwriting of small companies. The terms of a recent offering were as follows:,,Number of shares 3 million ,Offering price $25 per share ,Net proceeds $35 million ,,LaJolla Securities’ expenses associated with the offering were $400,000. Determine LaJolla Securities’ profit on the offering if the secondary market price of the shares immediately after the offering began were as follows:,,,a.$23 per share,$ million,,,,b.$25 per share,$ million,,,,c.$27 per share,$ million
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