Raybac is about to go public. Its present stockholders own 510,000 shares. The new public issue will represent 890,000 shares. The shares will be priced at $30 to the public with a 20% spread. The out-of-pocket costs in addition to the spread will be $570,000. What are the net proceeds to Raybac? Multiple Choice $20,790,000 $-5,914,970 $20,795,000 $20,805,000