Question: XYZ Corp. has recently completed an initial public offering ( IPO ) of 2 0 0 , 0 0 0 shares. The underwriter's explicit fees

XYZ Corp. has recently completed an initial public offering (IPO) of 200,000 shares. The underwriter's explicit fees for the IPO were $120,000. The shares were offered at a price of $40 each, but immediately after the offering, the share price increased to $44. Calculate the total cost of the equity issue for XYZ Corp.

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