Problem:
Suppose that a high tech firm in raises $150 million in an IPO. The firm receives $27 per share, and the stock sold to the public at $30 per share. The firm's legal fees, SEC registration fees, and other administrative costs are $410,000. The firm's stock price increases 13.5 percent on the first day.
Requirement:
Question: What is the firm's total cost of issuing the securities?
Note: Explain in detail and show all computations in proper way.