Profit or Loss on New Stock Issue Beedles Inc. needed to raise $14 million in an IPO and chose Security Brokers Inc. to

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Profit or Loss on New Stock Issue
Beedles Inc. needed to raise $14 million in an IPO and choseSecurity Brokers Inc. to underwrite the offering. The agreementstated that Security Brokers would sell 3 million shares to thepublic and provide $14 million in net proceeds to Beedles. Theout-of-pocket expenses incurred by Security Brokers in the designand distribution of the issue were $210,000. What profit or losswould Security Brokers incur if the issue were sold to the publicat the following average price? Write out your answer completely.For example, 5 million should be entered as 5,000,000. Round youranswers to the nearest dollar. Loss should be indicated by a minussign.
$4.75 per share?
$
$6.5 per share?
$
$4.25 per share?
$