A municipal syndicate is offering an 8 3/4% bond issue to the public at 100. The syndicate manager is allowing a 3/4 point concession and a 1 point additional takedown. A member of the syndicate sells $1,000,000 of the bonds. The profit accruing to the syndicate member is:
a. $75,00
b. $10,000
c. $17,500
d. $8,500
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A municipal syndicate is offering an 8 3/4% bond issue to the public at 100. The syndicate manager i...
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