Question: Raybac is about to go public. Its present stockholders own 450,000 shares. The new public issue will represent 960,000 shares. The shares will be priced at $55 to the public with a 18% spread. The out-of pocket costs will be $450,000. What are the net proceeds to the firm? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.