ByLine, Inc. just sold 400,000 shares in a public offering for an offering price of $18 per share. The underwriting fee was 6.00% of the issues total value based on the offering price. As soon as the shares were issued, the price jumped to $30 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 $