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DEF, Inc. is selling 5 million new shares in an IPO on October 1, 2016. Net of flotation costs, the company will receive $12 per

DEF, Inc. is selling 5 million new shares in an IPO on October 1, 2016. Net of flotation costs, the company will receive $12 per share, with underpricing of 12%. How much would the company receive in additional funds if there were no underpricing?

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