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Question: abc ltd a hightechnology company issues a 20 million ipo...

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ABC Ltd, a high-technology company, issues a $20 million IPO with an offer price of $4 per share, underwritten at $3.76 per share. The company's legal fees, ASIC registration fees, and other administrative costs are $441,000. The company's share price increases by $0.6 on the first day. What is the company's total cost of issuing the securities (in millions of dollars to three decimal places; don’t use $ sign eg $4.5766 million is 4.577)? (Remember to round the number of shares issued to a whole number)

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