40. The Facebook IPO raised about $16 billion on 18 May 2012. Its offering price was $38.00, and it closed at $38.23. According to research, the underwriting spread is usually around 7 percent of the total money raised. Based on this percentage, the amount of the underwriting spread is and the degree of underpricing is a. $16 billion and 7% b. $1.12 billion and 100% c. $1.12 billion and 0.61% d. $16 billion and -0.61% e. none of the above