1. ABC Ltd issues a $28 million IPO providing proceeds to ABC of $3.6 per share, from an offer price to the public of $4 per share. The company's legal fees, ASIC registration fees, and other administrative costs are $412,000. The company's share price increases 8 per cent on the first day. What is the underpricing cost to the company of issuing the securities? (in millions of dollars to the nearest three decimal places; dont use the $ sign eg 7.897)?

2. ABC Ltd, a high-technology company, issues a $14 million IPO with an offer price of $6 per share, underwritten at $5.64 per share. The company's legal fees, ASIC registration fees, and other administrative costs are $351,000. The company's share price increases by $0.9 on the first day. What is the company's total cost of issuing the securities (in millions of dollars to three decimal places; dont use $ sign eg $4.5766 million is 4.577)? (Remember to round the number of shares issued to a whole number)