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What is the total flotation cost of Company ABC in the following situation the underwriter has sold 50,000 shares at an IPO price of

What is the total flotation cost of Company ABC in the following situation the underwriter has sold 50,000 shares at an IPO price of $50, the gross underwriting spread is 5% the legal fees is 70,000 the share price at the end of the first trading day is $60

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