moonshape has just computed an intial public offlring. The tiRm sold a million shared at an offer pnce of sioper shane. The under writing sphed was ofed $0.70 a share. The price of the stock closed at $13. bo per share at the end of the first day of trading. The fiem in curred $500000 in legal, admin, and other costs. What weeke flotation costs as a fraction of fundo raised? do not ronnd intemediate caluclation - rounded 2 decimal plares. a. Flotration cost as percent of fundo rasied