Nonpoint Company needs to raise $\backslash (\backslash$$ $70\backslash )$ million to start a new project and will raise the money belling new bonds. The company will generate no internal equity for the foreseeable future. The company has a target capital structure of $70$ percent common stock, $15$ percent preferred stock, and $15$ percent debt. Flotation costs for issuing new common stock are $10$ percent, for new preferred stock, $7$ percent, and for new debt, $2$ percent. What is the true initial cost figure the company should use when evaluating its project?

Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e$.$g$.,1,234,567.$