On January$20,$ Whalen $$Inc$.,$ sold $8$ million shares of stock in an SEO. The market price of Whalen at the time was $ $42\mathrm{.}00$ per share. Of the $8$ million shares$$ sold, $5$ million shares were primary shares being sold by the$$ company, and the remaining $3$ million shares were being sold by the venture capital investors. Assume the underwriter charges $4\mathrm{.}9\%$ of the gross proceeds as an underwriting fee.

a$.$ How much money did Whalen $$raise$?$

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

c$.$ If the stock price dropped $3\mathrm{.}8\%$ on the announcement of the SEO and the new shares were sold at that$$ price, how much money would Whalen $$receive$?$

Question content area bottom

Part $1$

a$.$ How much money did Whalen $$raise$?$

After underwriting$$ fees, Whalen raised $$$

$$

enter your response here million. $($Round to two decimal$$ places.$)$