Determine lajolla securities profit on the offering if the, Financial Management

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Determine lajolla securities profit on the offering if the

LaJolla Securities Inc. specializes in the underwriting of small companies. The terms of a recent offering were as follows: Number of shares 2 million Offering price $24 per share Net proceeds $37 million LaJolla Securities' expenses associated with the offering were $500,000. 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. $24 per share: $ _________ million

C. $28 per share: $ _________ million

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