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Chen Brothers Inc. sold 2 million shares in its IPO, at a price of $19.00 per share. Management negotiated a fee the underwriting spread of

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Chen Brothers Inc. sold 2 million shares in its IPO, at a price of $19.00 per share. Management negotiated a fee the underwriting spread of 10% on this transaction. What was the dollar cost of this fee? The cost of the undenwriter fees was million. (Round to two decimal places.)

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