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ALC wants to finance its expansion into new markets and has decided to sell 125,961 new shares of equity. The offer price will be $29

ALC wants to finance its expansion into new markets and has decided to sell 125,961 new shares of equity. The offer price will be $29 per share, the accounting and legal fees are expected to be $404,027, and the company's underwriters will charge a spread of 4.8 percent. How much will ALC received in net proceeds?

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