A firm sold $1$ million new shares in the primary market at an offer price of $$10$ per share; investment banks' underwriting fee is $5\%.$

After the public offering, the firm had $5$ million shares ofitstanding, and the price of those shares in the secondary market was $$12.$

The net proceeds from the firm's IPO were

$$60$ million

$$50$ million

$$9\mathrm{.}5$ million

$$12$ million