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 $57 million. Dode currently has 5 million shares outstanding and will issue 1.2 million new shares. ESM charges a 9% spread.

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

$

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

The answers are NOT 9.04 and 9,871,680