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Barnegat Light sold 260,000 shares in an initial public offering. The underwriter's explicit fees were $82,000. The offering price for the shares was $52, but

Barnegat Light sold 260,000 shares in an initial public offering. The underwriter's explicit fees were $82,000. The offering price for the shares was $52, but immediately upon issue, the share price jumped to $58. What is the best estimate of the total cost to Barnegat Light of the equity issue?

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