An investment banker agrees to a firm commitment offering of 1.2 million shares of Bally stock. The offer price is set at $25 and the spread is 30 cents per share. If the stock is actually sold to the public at $26,000, what is the amount of funds Bally receives?

A) 31,200,000

B) 30,600,000

C) 30,240,000

D) 29,640,000

E) 28,120,000