Cake Queen needs to raise $$4$ million for expansion and decides to issue long$-$term bonds. The financial manager hires an investment banking firm to help design the bond issue and underwrite it$.$ The issue consists of $4,000$ bonds, and the investment banker agrees to purchase the entire issue for $$3\mathrm{.}83$ million. The investment banker then resells the bonds to individual investors at the offering price. The sale totals $$4\mathrm{.}2$ million. What is the underwriter's compensation $($spread$)$ per bond?

round the answer to two decimal places