On January 20, Metropolitan Inc., sold 10 million shares of stock in an SEO. The market price of Metropolitan at the time was $41.50 per share. Of the 10 million shares sold, 4 million shares were primary shares being sold by the company, and the remaining 6 million shares were being sold by the venture capital investors. Assume the underwriter charges 5.2% of the gross proceeds as an underwriting fee.

a. How much money did Metropolitan raise?

b. How much money did the venture capitalists receive?

c. If the stock price dropped 3.4% on the announcement of the SEO and the new shares were sold at that price, how much money would Metropolitan receive?