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VLC Inc. sold 200,000 shares in an initial public offering. The underwriter's explicit fees were $58 thousand. The offering price for the shares was $37,

VLC Inc. sold 200,000 shares in an initial public offering. The underwriter's explicit fees were $58 thousand. The offering price for the shares was $37, but immediately upon issue, the share price jumped to $51. What is the best estimate of the total cost to the firm of the equity issue?

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