MC algo 15-6 Calculating Flotation Costs 9 Under a firm commitment agreement, Zeke, Co. went public and received $33.00 for each of the 8 million shares sold. The initial offer price was $35 and the stock rose to $38.43. The company paid $560,000 in direct flotation costs and $215,000 in indirect costs. What was the flotation cost as a percentage of funds raised? 4.16 points X 00:53:32 Multiple Choice eBook 26.14% O 16.80% 24.78% O 6.29% 21.51% O