"New" corporation wants to issue $20$ million new shares of stock by conducting an IPO. The corporation wants to sell the stock at a price of $$15$ per share. An investment bank agrees to underwrite this issue by buying the stock using a firm commitment offering, but only if they buy the stock at $$14$ per share. "New" corporation agrees and the bank proceeds to sell the stock to third part investors for $$16.$ What is the profit generated by the investment bank?

Multiple Choice

$$20$ million

$$40$ million

$$320$ million

$-$$$20$ million