A company is doing an IPO underwritten by an investment bank. The company plans to issue 500,000 ordinary shares. The investment bank offers stand-by underwriting at a spread of 8%. The issue price is set at $5 per share. On the IPO day, the company only received subscriptions of 95% of the total number of shares offered.

a) What are the total proceeds from the IPO? Round your answer to the nearestdollar.Do not include the $ symbol. Do not use comma separators. E.g. 123456 (1 mark)

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b)How much does the company expect to receive from the IPO? Round your answer to the nearestdollar.Do not include the $ symbol. Do not use comma separators. E.g. 123456 (1 mark)

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c) How much does the investment bank expect to receive from the IPO? Round your answer to the nearestdollar.Do not include the $ symbol. Do not use comma separators. E.g. 123456 (1 mark)

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