Question $6$

Pawprints Paint recently went public in a best efforts offering. The company offered $155,000$ shares of stock for sale at an offer price of $$25$ per share. The administrative costs associated with the offering were $$395,000$ and the underwriter's spread was $7$ percent. After completing their sales efforts, the underwriters determined that they sold a total of $148,700$ shares. What were the net proceeds to the company?

$$2,813,750$

$$2,667,275$

$$3,208,750$

$$3,062,275$

$$3,457,275$