Cullumber Biotech management plans a $$107$ million IPO in which the offering price to the public will be $$50$ per share. The company will receive $$47\mathrm{.}50$ per share. The firm's legal fees, SEC registration feesand other out$-$of$-$pocket costs will total $$465,000.$ If the stock price increases $14$ percent on the first day of tradingwhat will be the total cost of issuing the securities$?$