Oriole Technologies agreed to complete its IPO on a best$-$effort basis. The company's investment bank demanded a spread of $16$ percent of the offer price, which was set at $$27\mathrm{.}00$ per share. Three million shares were issued; however, the bank's management was overly optimistic and eventually was able to sell all of the stock for onily $$25\mathrm{.}0$ per share. What were the proceeds for the issuer and the underwriter?

Proceeds to issuer

$

Proceeds to underwriting

$