Consider an IPO for $50 a share for 4 million shares. The deal has one lead manager, 2 co-managers, and 10 syndicate members. The lead and co- managers each underwrite 1 million shares, and the syndicate members each underwrite 100,000 shares. The selling concession is split 70% for the lead, 10% for each co-manager, and 1% for each syndicate member. The management fee is split half for the lead and a quarter for the 2 co-managers. Expenses on the IPO are $1.2 million. Assuming the IPO fee is 7% and the split of the three fees are at the averages shown in class, show the breakdown of fees for each member of the IPO underwriting group.