Pharoah, Inc., a high-technology form in Portland, raised a total of $90 million in an IPO. The company received $27 of the $30 per share offering price. The firm's legal fees, SEC registration fees, and other out-of- pocket costs were $250,000. The firm's stock price increased 17 percent on the first day of trading. What was the total cost to the firm of issuing the securities? Total cost $