Local Ltd offered 10 000 ordinary shares of N$2.50 to the public. The full share issue is underwritten by Forex Ltd at a

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answerhappygod
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Local Ltd offered 10 000 ordinary shares of N$2.50 to the public. The full share issue is underwritten by Forex Ltd at a

Post by answerhappygod »

Local Ltd offered 10 000 ordinary shares of N$2.50 to the
public. The full share issue is underwritten by Forex Ltd at a
commission of 7%. The public only subscribed for 8 000 shares.
Determine the underwriters commission payable to Forex Ltd:
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