Harpers Dog Pens, Inc., with the help of its investment bank, recently issued 8.7 million shares of new stock. The offer price on the stock was $13.20 per share and Harpers received a total of $107.88 million from the stock offering.

Calculate the net proceeds per share and the underwriter's spread per share on the stock offering. (Round your answers to 2 decimal places.)

Net proceeds	$ per share
Underwriters spread	$ per share

What percentage of the gross proceeds is the investment bank charging Harpers Dog Pens for underwriting the stock issue? (Round your answer to 2 decimal places.)

Percent underwriting spread

%