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Blossom, Inc., a high$-$technology firm in Portland, raised a total of $$87$ million in an IPO. The company received $$27$ of the $$30$ per

share offering price. The firm's legal fees, SEC registration fees, and other out$-$of$-$pocket costs were $$450,000.$ The firm's stock price

increased $17$ percent on the first day of trading. What was the total cost to the firm of issuing the securities$?$

Total cost

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