Problem $3-14($Algo$)$

DRK$,$ Incorporated, has just sold $80,000$ shares in an initial public offering. The underwriter's explicit fees wer

$$48,000.$ The offering price for the shares was $$64,$ but immediately upon issue, the share price jumped to

$$68\mathrm{.}00.$

Required:

a$.$ What is the total cost to DRK of the equity issue?