Four Wheels requires $1.75 million to fund a new project and has decided to raise the funds via a seasoned stock offering. Assume the firm will incur $140,000 in indirect costs and pay 8.63 percent of the gross proceeds in direct costs. How much does the firm need to raise in total to cover all of the costs as well as fund the new project?
A. $2,055,289
B. $2,037,825
C. $2,068,513
D. $1,914,650
E. $1,984,294