ByLine, Inc. just sold 200,000 shares in a public offering for an offering price of $14 per share. The underwriting fee was 5.00% of the issues total value based on the offering price. As soon as the shares were issued, the price jumped to $26 per share.

What are the explicit, implicit, and total costs of the issue? (Round your answer to the nearest dollar.)

a. Explicit cost $

b. Implicit cost $

c. Total cost $