Suppose Stay Switt Corp, is going publice and, based on the bookbuilding process, decides it will be issuing 300,000 stares of common stock to raise copital to fund the company's proposed expansion. Suppose o Dutch auction (an avetion in which the auctioneer begins with a high asking pice and lowers it until some bldder accepts the price) is used to allocate shares in the Stay Swift Corp. fpo. The following table shows the number of sharts requested by poteatial bidders. To sell the 300,000 thares, 5tay Switt Corpis tPo minimum offer price should be The total amount of funding raised will be Given the trpical 7 percent transaction cost due to the issuing firm, the tPo would result in a transaction cost of