Felton Publishing recently completed its IPO. The stock was offered at a price of $13.96 per share. On the first day of trading, the stock closed at $18.31 per share. If Felton Publishing paid an underwriting spread of 7.1% for its IPO and sold 5 million shares, what was the total cost (exclusive of underpricing) to the company of going public? The total cost of going public was 9 million. (Round to one decimal place.)