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Barnegat Light sold 170,000 shares in an initial public offering. The underwriter's explicit fees were $64,000. The offering price for the shares was $34, but immediately upon issue, the share price jumped to $45. What is the best estimate of the total cost to Barnegat Light of the equity issue?

$1,806,000

$64,000

$1,870,000

$1,934,000

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92254079

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