An IPO Was Offered to the Public at $18 a Share

An IPO was offered to the public at $18 a share with the issuing firm receiving $16.50 of that amount.The issuer incurred $750,000 in legal and administrative costs.At the end of the first trading day,the stock was priced at $22.40 a share.What was the total dollar cost,including both direct and indirect costs,of issuing the securities if 225,000 shares were offered?

A) $1,687,500
B) $1,540,000
C) $2,077,500
D) $1,087,500