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Wallace Publishing recently completed its IPO. The stock was offered at a price of $13.76 per share. On the first day of trading, the stock
Wallace Publishing recently completed its IPO. The stock was offered at a price of $13.76 per share. On the first day of trading, the stock closed at $18.49 per share. If Wallace Publishing paid an underwriting spread of 7.9% for its IPO and sold 12 million shares, what was the total cost (exclusive of underpricing) to it of going public?
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