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BBB Ltd issues an IPO. The company's investment bank demands a spread of 5 per cent of theoffer price, which is set at $6 per

BBB Ltd issues an IPO. The company's investment bank demands a spread of 5 per cent of theoffer price, which is set at $6 per share. 8 million shares are issued. What are the proceeds for the issuer (in millions of dollars to the nearest three decimal places)?

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