Walton and Company is the managing investment banker for a major new underwrit

Walton and Company is the managing investment banker for a major new underwriting. The price of the stock to the investment banker is $17 per share. Other
syndicate members may buy the stock for $19.25. The price to the selected dealers group is $21.80 with a price to brokers of $22.20. Finally the price to the
public is $22.50.

a=If Walton and Company sells its shares to the dealers group what will the percentage return be?

b=If Walton and Company also performs the dealer%u2019s function and sells to brokers what will the percentage return be?

c=If Walton and Company fully integrates its operation and sells directly to the public what will its percentage return be?

round to 2 decimal places