12-6 Van Bran Inc. is looking into financing a $30 million project with an equity issue. If the firm’s underwriter charges a spread (i.e., underwriting fee) of 6% on equity issues, what is the gross...

Van Bran Inc. is looking into financing a $30 million project with an equity issue. If the firm’s underwriter charges a spread (i.e., underwriting fee) of 6% on equity issues, what is the gross amount that must be raised in Van Bran’s equity issue?