business math

Question

Universal Waste Disposal sold 1,350,000 shares of stock at $24.62 per share. The investment banker's commission was 5% of the value of the stock. Accounting fees were $450,000, legal fees were $1,225,000, printing costs were $275,000, and other selling expenses were estimated to be $300,000. To the nearest cent, what was the selling expense per share?

Answer 1

1. Banker's commission = (1,350,000)($24.62)(0.05) = $1,661,850
2. Accounting Fees = $450,000
3. Legal Fees = $1,225,000
4. Printing Costs = $275,000
5. Misc. Expenses = $300,000

 

Add them up to get the Total Selling Expenses.  Total selling expense per share is:

 

     (Total Selling Expenses)/(Number of shares sold) = ____?

 

Round to the nearest cent.