Glasses, Etc. is offering 100,000 shares of common stock to the public in an initial public offering (IPO). The underwriters agree to pay $18 a share and to provide their services in a best efforts underwriting. The offer price is set at $19.50. The underwriters sell a total of 91,700 shares to the general public. How much cash did Glasses, Etc. receive from its IPO?

Question 4 options:

	$1,720,500
	$1,800,000
	$1,650,600
	$1,788,150
	$1,950,000