Dode Industries has hired the investment banking firm of Eric, Schwartz, & Mann (ESM) to help it go public. Dode and ESM agree that Dode's current value of equity is $55 million. Dode currently has 4 million shares outstanding and will issue 1.9 million new shares. ESM charges a 7% spread.

A. What is the correctly valued offer price? Do not round intermediate calculations. Round your answer to the nearest cent.

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B. How much cash will Dode raise net of the spread (use the rounded offer price)? Round your answer to the nearest dollar.