1. Net amount raised = (No of shares * Price per share received) - Direct costs - Indirect costs
= (4,170,000* 32.7 ) - 912,000 - 264,000
=$135,183,000
2. Total Direct costs = Direct costs + ( Initial offering price - Price received ) * No of shares
= 912,000 + ( 35.1- 32.7) * 4,170,000
= 10,920,000
3. Total indirect costs = Indirect costs + ( Highest stock price - Initial offering price) * No of shares
= 30,705,000
4. Total costs = Total Direct costs + Total indirect costs = 10,920,000 + 30,705,000 = 41,625,000
5. Floatation costs = Total costs / Net amount raised = 41,625,000 / 135,183,000 * 100 = 30.79%
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