On January 20, Whalen Inc., sold 9 million shares of stock in an SEO. The market price of Whalen at the time was $41.25 per share. Of the 9 million shares sold, 4 million shares were primary shares being sold by the company, and the remaining 5 million shares were being sold by the venture capital investors. Assume the underwriter charges 5.2% of the gross proceeds as an underwriting fee. How much money did Whalen raise? $156.42 million $182.35 million $122.46 million $174.29 million

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