The Wiley Oakley Co has just gone public Under a firm commitment agreement, the company received $20.65 for each of the 6,55 million shares sold. The initial offering price was 522 50 per share and the stock rose to $29.01 per share in the first few minutes of trading The company paid $905,000 in legal and other direct costs and 5180.000 in indirect cost What was the flotation cost as a percentage of funds raise? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places.. 32.16 Flotation cost percentage