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ByLine, Incorporated just sold 100,000 shares in a public offering for an offering price of $12 per share. The underwriting fee was 4.50% of
ByLine, Incorporated just sold 100,000 shares in a public offering for an offering price of $12 per share. The underwriting fee was 4.50% of the issue's total value based on the offering price. As soon as the shares were issued, the price jumped to $24 per share. Required: 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
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