Barnegat Light sold 210,000 shares in an initial public offering. The underwriter's explicit fees were $72,000. The offering price for the shares was $42, but immediately upon issue, the share price jumped to $52. What is the best estimate of the total cost to Barnegat Light of the equity issue?

$2,028,000

$2,172,000

$72,000

$2,100,000