Question: FBN , inc. has just sold 1 0 0 , 0 0 0 in an initial public offering . The underwriter's explicit fees were $

FBN, inc. has just sold 100,000 in an initial public offering . The underwriter's explicit fees were $70,000. The offering price for the shares was $50, but immediately upon issue, the share price jumped to $53. What is your best guess as to the total cost to FBN of the equity issue?

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