DUR Semiconductors will issue stock at a retail (public) price of $18. The company will receive $16.55 per share.

a. What is the spread on the issue in percentage terms?
b. If DUR Semiconductors demands receiving a net price only $0.85 below the public price suggested in part a, what will the spread be in percentage terms?
c. To hold the spread down to 3 percent based on the public price in part a, what net amount should DUR Semiconductors receive?