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Draiman Guitars is offering 165,000 shares of stock in an IPO by a general cash offer. The offer price is $23 per share and the

Draiman Guitars is offering 165,000 shares of stock in an IPO by a general cash offer. The offer price is $23 per share and the underwriter's spread is 8.5 percent. The administrative costs are $405,000. What are the net proceeds to the company?

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