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BlossomBiotech management plans a $100million IPO in which the offering price to the public will be $50per share. The company will receive $47.50 per share.

BlossomBiotech management plans a $100million IPO in which the offering price to the public will be $50per share. The company will receive $47.50 per share. The firm's legal fees, SEC registration fees, and other out-of-pocket costs will total $350,000. If the stock price increases14percent on the first day of trading, what will be the total cost of issuing the securities?

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