The proceeds that UWD received will be as follows:
Number of shares 1,350,000
share price $24.62
Amount realized from the shares:
1,350,000×24.62
=33,237,000
Total amount to be deducted will be:
(Commission+Accounting fees+legal fees+printing costs+selling expenses)
commission=$1,661,850
Accounting fees=$450,000
legal fees=$1,225, 000
printing cost=$275,000
selling expenses=$300,000
Total=(1,661,850+450,000+1,225,000+275,000+300,000)
=$3,911,850
The amount received will be:
33,237,000-3,911,850
=$29,325,150
