PT ANRJ issues a IDR 450 million IPO priced at IDR 130 per share, and the offering price to the public is $150 per share. The firm's legal fees, SEC registration fees, and other administrative costs are $75,000,000. The firm's stock price increases 16 percent on the first day. What is the underwriting cost?

a. 60,000,000

b. 135,000,000

c. 75,000,000

d. no correct answer

e. 72,000,000