Phoebe owns 200 shares in Optus Inc. Optus has 50 million shares outstanding that are trading at $3 each. Due to a liquidity crisis, Optus decides to place 15 million shares to a group of hedge funds at $2 each. How much money did Phoebe lose due to this private placement, based only on the information above? (round to the nearest 2 digits) Group of answer choices $46.00 $40.00 $42.00 $52.00 None of the other answers are correct.

Phoebe owns 200 shares in Optus Inc. Optus has 50 million shares outstanding that are trading at $3 each. Due to a liquidity crisis, Optus decides to place 15 million shares to a group of hedge funds at $2 each. How much money did Phoebe lose due to this private placement, based only on the information above? (round to the nearest 2 digits) Group of answer choices $46.00 $40.00 $42.00 $52.00 None of the other answers are correct.

Individual Income Taxes

43rd Edition

ISBN:9780357109731

Author:Hoffman

Publisher:Hoffman

Chapter5: Gross Income: Exclusions

Section: Chapter Questions

Problem 50P

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