Firm commitment versus best efferts. Astro Investment Bank offers Lunar Vacations the following options on its initial p

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Firm Commitment Versus Best Efferts Astro Investment Bank Offers Lunar Vacations The Following Options On Its Initial P 1 (69.04 KiB) Viewed 34 times

Firm commitment versus best efferts. Astro Investment Bank offers Lunar Vacations the following options on its initial public sale of equity: (a) a best efforts arrangement whereby Astro will keep 3.1% of the retail sales or (b) a firm commitment arrangement of $10,200,000. Lunar plans on offering shares at $11.17 per share to the public. What is the break-even point in number of shares for Lunar Vacations? What are the proceeds to Lunar Vacations and Astro Investment Bank at the break-even point? What is the break-even point in number of shares for Lunar Vacations? shares (Round to the nearest whole number.)