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Deere and Bros. is a broker that brings new issues of small firms to the public market. Their most recent deal for Dextra, Inc., had

Deere and Bros. is a broker that brings new issues of small firms to the public market. Their most recent deal for Dextra, Inc., had the following characteristics: Number of shares: 1,400,000 Proceeds to Dextra: 12,670,000 Price to public: $17 per share; The legal fees were $155,000, printing costs were $57,000, and all the other expenses were $70,000. What is the profit or loss for Deere and Bros.?

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