On January $20,$ Sullivan Inc., sold $8$ million shares of stock in an SEO. The

market price of Sullivan at the time was $$42\mathrm{.}25$ per share. Of the $8$ million

shares sold, $4$ million shares were primary shares being sold by the

company, and the remaining $4$ million shares were being sold by the venture

capital investors. Assume the underwriter charges $5\mathrm{.}1\%$ of the gross

proceeds as an underwriting fee.

a$.$ How much money did Sullivan raise?

b$.$ How much money did the venture capitalists receive?

c$.$ If the stock price dropped $2\mathrm{.}3\%$ on the announcement of the SEO and the

new shares were sold at that price, how much money would Sullivan

receive?