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Hi, just wanted to clarify that, when we have issue costs, we calculate it on the grossed up amount. And when we have any interest to pay also its on the grossed up amount including issue costs right? But in this q they have calculate interest paid on 30600 and not 31875, why?
We gross up if the issue costs are being paid out of the amount being raised.
In this question it says that the issue costs are being paid out of the available cash reserves. Therefore they are not being paid out of the amount raised and they are therefore only raising $30.6 million.