Subm Barnegat Light sold 280,000 shares in an initial public offering. The underwriter's explicit fees were $86,000. The offering price for the shares was $56, but immediately upon issue, the share price jumped to $64. What is the best estimate of the total cost to Barnegat Light of the equity issue? Multiple Choice $86,000 $2,154,000 $2,326,000 $2,240,000