A company is issuing an IPO and sells 1 million shares at $27.50/share to the lead underwriter who sells them to the banking group for $28.00/share. The banking group sells to the selling group for $28.50/share and they then sell the shares to the public for $29.00/share. What is the amount of the proceeds to the company? O a) $27.5 million b) $28.0 million O c) $29.0 million d) $28.5 million