Firm commitment versus best efforts. Astro Investment Bank offers Lunar Vacations the following options on its initial public sale of equity: $($a$)$ a best efforts arrangement whereby Astro will keep $2\mathrm{.}4\%$ of the retail sales or $($b$)$ a firm commitment arrangement of $$9,800,000.$ Lunar plans on offering $1,000,000$ shares at $$12\mathrm{.}55$ per share to the public. If it sells $100\%$ of the shares, which is the better choice for Lunar Vacations? Which is the better choice for Astro Investment Bank?