Mountaintop Market Is Offering 60,000 Shares of Stock to the Public

Mountaintop Market is offering 60,000 shares of stock to the public in a general cash offer.The offer price is $30 a share and the underwriter's spread is 9 percent.The administrative costs are estimated at $310,000.How much will Hilltop Market receive from this stock offering assuming the issue is completely sold?

A) $1,370,800
B) $1,328,000
C) $1,490,000
D) $1,638,000
E) $1,800,000