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Margoles Publishing recently completed its IPO. The stock was offered at a price of $14.78...

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Accounting

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Margoles Publishing recently completed its IPO. The stock was offered at a price of $14.78 per share. On the first day of trading, the stock closed at $18.55 per share. If Margoles Publishing paid an underwriting spread of 6.6% for its IPO and sold 12 million shares, what was the total cost (exclusive of underpricing) to it of going public? The total cost of going public was $ million. (Round to one decimal place.)

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