The Corner Market Is Offering 75,000 Shares of Stock to the Public

The Corner Market is offering 75,000 shares of stock to the public in a general cash offer.The offer price is $29 a share,and the underwriter's spread is 8.5 percent.The administrative costs are estimated at $360,000.How much will the company net from this stock offering assuming the issue is completely sold?

A) $2,319,525
B) $1,546,000
C) $1,630,125
D) $1,610,000
E) $2,257,048