Question: Please help me solve. I will leave a thumbs up!! Margoles Publishing recently completed its IPO. The stock was offered at a price of $13.81

Please help me solve. I will leave a thumbs up!!

Margoles Publishing recently completed its IPO. The stock was offered at a price of $13.81 per share. On the first day of trading, the stock closed at $18.07 per share. If Margoles Publishing paid an underwriting spread of 6.2% for its IPO and sold 5 million shares, what was the total cost (exclusive of underpricing) to the company of going public? The total cost of going public was $ million (Round to one decimal place.)

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