What is the dollar value of the total direct costs of issue, Accounting Basics

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What is the dollar value of the total direct costs of issue

Problem

1. Young Corporation stock currently sells for $30 per share. There are 1 million shares currently outstanding. The company announces plans to raise $4 million by offering shares to the public at a price of $30 per share.

2. If the under writing spread is 5% and the other administrative costs are $85,000, what is the dollar value of the total direct costs of the issue? Note: Enter your answer in dollars not in millions. Do not round intermediate calculations.

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Accounting Basics: What is the dollar value of the total direct costs of issue

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Accounting Basics: What is the dollar value of the total direct costs of issue

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