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Westside Market is offering 60,000 shares of stock to the public in a general cash offer. The offer price is $30 a share, and the

Westside Market is offering 60,000 shares of stock to the public in a general cash offer. The offer price is $30 a share, and the underwriter's spread is 9 percent of that amount. The administrative costs are estimated at $310,000. How much net proceeds will Westside Market receive from this stock offering assuming the issue is completely sold?

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$1,370,800

$1,328,000

$1,490,000

$1,638,000

$1,800,000

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