An underwriter follows a best efforts basis to sell 3.25 million shares at $11 each. Such a public offering price has included a $1.20 spread. How much will the issuer receive if only 2.5 million shares are sold in the issue?

Input your answer in millions rounded to 2 decimal places and do NOT enter any symbols such as $, comma or %. (e,g, 12.25 not 12250000)

Please show work, thank you