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A company is going public at $15 and will use the ticker XYZ. The underwriters will charge a 7 percent spread. The company is issuing

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A company is going public at $15 and will use the ticker XYZ. The underwriters will charge a 7 percent spread. The company is issuing 19 million shares, and insiders will continue to hold on additional 38 milion shares that will not be part of the IPO. The company will also pay $2.5 milion of audit fees, S4 milion of legal fees, and $800,000 of printing toes. The stock closes the first day at $18. Answer the following questions: At the end of the first day, what is the market capitalization of the company Enter your answer in millions. For example, an answer of $1.2 minon should be entered as 12, not 1,200,000. Do not round intermediate calculations, Round your answer to one decimal place 5 million b. What are the total costs of the offering? Include underpricing in this calculation. Enter your answer in millions. For example, an answer of $1.2 milion should be entered at 1.2. not 1,200,000. Do not round intermediate calculations. Round your answer to one decimal place million 5

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