Crescent, Inc., management is planning an IPO, and the investment bank offers to buy the securities for $21.50 per share and offer them to the public at $23.00. What is the gross underwriters spread? Assume that the underwriters cost of bringing the security to the market is $1.00 per share. What is the net profit? (Round answer to 2 decimal places, e.g. 15.21.) Please show breakdown of equation.