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ABC Company used an investment bank to do IPO. In IPO, the company sold 93,402 shares at $75 each. The investment bank charged 6% spread.

ABC Company used an investment bank to do IPO. In IPO, the company sold 93,402 shares at $75 each. The investment bank charged 6% spread. At the end of the 1st day of trading, ABC's stock price closed at $102.

What is the indirect cost of the IPO to the company?

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