DiPitro’s Paint and Wallpaper, Inc., needs to raise $2.493 million to finance plant expansion. In discussions with its investment bank, DiPitro’s learns that the bankers recommend a gross price of $45 per share and that 60,000 shares of stock be sold. Th

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Home>Business & Finance homework help> DiPitro’s Paint and Wallpaper, Inc., needs to raise $2.493 million to finance plant expansion. In discussions with its investment bank, DiPitro’s learns that the bankers recommend a gross price of $45 per share and that 60,000 shares of stock be sold. Th

A loan commitment of $4.42 million has an up-front fee of 35 basis points and a back-end fee of 25 basis points. The take down on the loan is 50 percent.

Calculate the total fees you will pay on this loan commitment. (Round your answer to 2 decimal places.)

  Total fees

$