part A and B are given for part c

Batman Enterprises has just completed an initial public offering. The firm sold 3,800,000 new shares (the primary offering). In addition, existing shareholders sold 300,000 shares (the secondary issue). The new shares were offered to the public at $14.00 per share and underwriters received a spread of $1.21 a share. The legal, administrative, and other costs were $375,000 and were split proportionately between the company and the selling stockholders. How much money did the company receive before paying its proportion of the direct costs? 48602000 Correct response: 48,602,000 Click "Verity to proceed to the next part of the question. Suppose that on the first day of trading, the price of Batman's stock is $15.50 per share. What is the cost to the firm from the underpricing? 5700000 Correct response: 5,700,000 Click "Verity to proceed to the next part of the question Given that the company receives $48,602,000 from the issue before paying the direct costs and that the cost from underpricing is $5.700,000, what are the total costs of the issue to the firm? Give your answer rounded to the nearest dollar. Number Click "Verity to proceed. Section Attempt 1 of 1 Verify