Net Proceeds Calculation

Q) The Stockholders in a company owns 500 shares. The New Public Issue is there with 600 Shares. Each share price will be traded at $20 with a 4% spread. The cost will be $400000. Calculate the net Proceeds?

  1. $11,120

  2. $ 19,200

  3. $ 11,600

  4. $ 15,600

Can anybody help me on this problem?