1. XYZ used an investment bank to do IPO. In IPO, XYZ sold 1 million shares at $63.95 each. The investment bank charged 7% spread. At the end of the 1st day of trading, XYZ stock price closed at $75.97. Calculate the total cost of IPO. That is, what is the sum of direct and indirect cost? Round to 2 decimal spaces please.

2.ABC, Inc.'s stock is currently selling for $68.93. The dividends are expected to grow at 2.91% each year forever. If the required rate of return on the stock is 19.77%, what is the current period's dividend? That is, solve for D₀.

3.Suppose the company paid dividend of $17.57. That is, D₀ is $17.57. What is the amount of dividend in Year 8? That is, what is D₈? Assume that the dividends are expected to grow by 7% each year.