On April 27, 2018, DocuSign, a California company that provides technology to enable digital signatures on important documents, conducted its initial public offering (IPO) of common stock. In the primary trading market the company's shares were priced at $28.04 per share, but after one day of trading on Nasdaq, the share price closed at $38.77. The company sold 22.4 million shares in the offering. a. To what extent (in dollars and on a percentage basis) was DocuSign's stock underpriced in its IPO? b. How much cash (before deducting fees to investment banks) did DocuSign raise? How much more would it have raised if the shares had not been underpriced? a. DocuSign's stock was underpriced on its IPO by $ (Round to the nearest cent.)