Problem 13.8

Trajax, Inc., a high-technology firm in Portland, raised a total of $120 million in an IPO. The company received $27 of the $30 per share offering price. The firms legal fees, SEC registration fees, and other out-of-pocket costs were $750,000. The firms stock price increased 17 percent on the first day of trading. What was the total cost to the firm of issuing the securities? (Round answer to the nearest whole dollar, e.g. 5,275.)

Total Cost

$