Answer:
the issuing firm received is $9,000,000 or $9 million
Explanation:
The computation of the issuing firm received is shown below;
= Number of shares sold × (sale price per share - spread)
= 500,000 shares × ($20 - $2)
= $500,000 shares × $18
= $9,000,000 or $9 million
Hence, the issuing firm received is $9,000,000 or $9 million
We simply applied the above formula so that the accurate value could come
And, the same is to be considered
