# Cranjet Inc. is issuing 10,000 bonds, and its investment banker has guaranteed a price of \$985 per bond. If the investment banker sells the entire issue to investors for \$10,150,000.

Question:

Cranjet Inc. is issuing 10,000 bonds, and its investment banker has guaranteed a price of \$985 per bond. If 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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