. An online medical advice company just completed an IPO with an investment bank on a firm-commitment basis. The firm issued five million shares of common stock, and the underwriting fees were $2.90 per share. The offering price was $27.50 per share. Show all work.

a. What were the total proceeds from the common-stock sale?

Total proceeds from issue		=
		=

b. How much money did the company receive?

Net proceeds to firm		=
		=

c. How much money did the investment bank receive in fees?

Underwriting spread		=
		=