Question: Suppose that on October 1, 2017 , Apple issues 800 million shares of common stock at a price of $200 per share. Underwriting expenses are

Suppose that on October 1, 2017, Apple issues 800 million shares of common stock at a price of $200 per share. Underwriting expenses are 3% of the gross proceeds. Assume that Apple capitalizes underwriting expenses. Use the BSE to identify the transactions Apple records to reflect the issuance of equity. Type your answer in millions with one decimal place.

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