a company is going public at $18 and will use the ticker XYZ. the underwriters will charge a 7% spread period the company is issuing 20 million shares and insiders will continue to hold an additional 40 million shares that will not be part of the IPO the company will also pay 2 million of audit fees and 3 million of legal fees and 400,000 of printing fees. the stock closes the first day at $22. what are the total costs of going public for XYZ as a percentage of the total precost equity value? in calculating the pre-class equity value use the closing price of the stock at the end of the first day as the precost equity value period include pricing in the calculation of the total costs of offering period do not round intermediate calculations. round your answer to two decimal places.

Problem 10-02 A company is going public at $18 and will use the ticker XYZ. The underwriters will charge a 7 percent spread. The company is issuing 20 million shares, and insiders will continue to hold an additional 40 million shares that will not be part of the IPO. The company will also pay $2 million of audit fees, $3 million of legal fees, and $400,000 of printing fees. The stock closes the first day at $22. What are the total costs of going public for XYZ as a percentage of the total pre-cost equity value? In calculating the pre-cost equity value, use the closing price of the stock at the end of the first day as the pre-cost equity value. Include underpricing in the calculation of the total costs of the offering. Do not round Intermediate calculations. Round your answer to two decimal places