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DRK, Incorporated, has just sold 190,000 shares in an initial public offering. The underwriter's explicit fees were $114,000. The offering price for the shares was

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DRK, Incorporated, has just sold 190,000 shares in an initial public offering. The underwriter's explicit fees were $114,000. The offering price for the shares was $44, but immediately upon issue, the share price jumped to $48.50. Required: a. What is the total cost to DRK of the equity issue

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