You Decide to Take Your Company Public by Offering a Total

You decide to take your company public by offering a total of 300,000 shares of common stock in an initial public offering (IPO) . You hire an underwriter who arranges a full commitment underwriting at a 7 % spread. As it turns out, the underwriters only sell 265,000 shares at $24 each. How much cash will you receive from your IPO?

A) $5,914,800
B) $6,360,000
C) $6,696,000
D) $7,200,000
E) $7,704,000