MN Company is planning to offer IPO.
According to underwriters,
selling price	$20	per share
direct costs are expected	$0.80	million
the underwrites charge a	7%	spread

Assume that the share price
closes the first day at	$22
How much cash the company left on the table?

	1.	Between 3.3 million and 3.4 million
	2.	Between 3.70 million and 3.8 million
	3.	Between 4 million and 4.1 million
	4.	Between 4.60 million and 4.7 million