The raven company has just gone public under a firm commitment agreement raven received 22.25 for each of the 6 million shares sold the initial offering price was $24.25 per share and the stock rose to $30.56 per share in the first few minutes of trading raven paid $1,080,000 in direct legal and other cost and $324,000 in direct cost.what was the flotation cost as a percentage of funds raised