Batman Enterprises has just completed an initial public offering. The firm sold 500,000 new shares the primary offering). In addition, existing shareholders sold 275,000 shares (the secondary issue). The new shares were offered to the public at $19.00 per share and underwriters received a spread of $0.61 a share. The legal, administrative, and other costs were $225,000 and were split proportionately between the company and the selling stockholders. How much money did the company receive before paying its proportion of the direct costs? 9195000 Correct response: 9,195,000 Click "Verify" to proceed to the next part of the question. Suppose that on the first day of trading, the price of Batman's stock is $23.50 per share. What is the cost to the firm from the underpricing? Number Click "Verify" to proceed to the next part of the question. Section Attempt 1 of 1 Verify