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Raybac is about to go public. Its present stockholders own 450,000 shares. The new public...

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Accounting

Raybac is about to go public. Its present stockholders own 450,000 shares. The new public issue will represent 830,000 shares. The shares will be priced at $30 to the public with a 16% spread. The out-of pocket costs will be $510,000. What are the net proceeds to the firm

$20,406,000 $20,411,000 $20,421,000 $-4,498,970

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