Considering that the banker's spread will be 6.5% of the total issue size, and Boyle will have to pay $60,000 out-of-pocket expenses, what is the total issue size necessary to yield $10 million in cash to the company? Use the formula: X-.065X-$60,000=$10,000,000. X is the issue size. Round your answer upward to the nearest $100,000.

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