Batman Enterprises has just completed an initial public offering. The firm sold 1,600,000 new shares (the primary oflering). In addition, existing sharehalders sold 125,000 shares (the secondary issue). The new shares were ollered to the public at $16.00 per share and underwriters received a spread of $0.53 a thare. The legal, administrative, and other costs were $300,000 and wore split proportionately between the company and the seling stockholders. How much money did the company receive belore paying its proportion of the direct costs? correct response: 24,752,000 Cick "Verily" to proceed to the next part of the question. Suppose that on the first day of trading, the price of Batmany stock is $16,80 per share. What is the cost to the firm trom the underpnicing? Click "Verity" to procelid to the next part ot the