Global Traders Is Offering 130,000 Shares of Stock to the Public

Global Traders is offering 130,000 shares of stock to the public in a general cash offer.The offer price is $38 a share and the underwriter's spread is 8 percent.The administrative costs are estimated at $865,000.How much will Global Traders receive from this stock offering as net proceeds assuming the issue is completely sold?

A) $3,370,800
B) $3,679,800
C) $4,490,000
D) $4,075,000
E) $3,828,400