An investment banker agrees to a firm commitment offering of 1.5 million shares of Bally stock. The offer price is set at $25.50 and the spread is 30 cents per share. If the stock is actually sold to the public at $28.00, however, what is the amount of funds Bally receives? (Ignore any other fees or expenses.)

A) $31,200,000

B) $30,600,000

C) $30,240,000

D) $37,800,000

E) $28,120,000