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Oak Company has just gone public. Oak sold 20 million shares at an offer price of $69. The underwriters received a spread of 7%. Legal

Oak Company has just gone public. Oak sold 20 million shares at an offer price of $69. The underwriters received a spread of 7%. Legal and filing fees were $3.1 million.

On the first day of trading, the stock closed at $92.46.

Question:

What were the total indirect costs of the IPO (in $ million)?

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