Question: PLEASE show step by step breakdown, I want to learn how you got to that answer Felton Publishing recently completed its IPO. The stock was

PLEASE show step by step breakdown, I want to learn how

PLEASE show step by step breakdown, I want to learn how you got to that answer

Felton Publishing recently completed its IPO. The stock was offered at a price of $14.34 per share. On the first day of trading, the stock closed at $19.58 per share. If Felton Publishing paid an underwriting spread of 6.7% 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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