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3. Spartans Investment House is an underwriting firm to underwrite an issue of 7.5 million shares of stock for MyFace, a private social media firm looking to go public. specializing in initial public offerings (IPOs). Spartans is hired a. Spartans agrees to underwrite the stock on a firm commitment basis, paying $8.75 per share for 7.5 million shares i. If the IPO price is $9.50, how much capital does MyFace raise? How much profit (or loss) does Spartans earn? (2 points) ii. If the IPO price is $7.95, how much capital does MyFace raise? How much profit (or loss) does Spartans earn? (2 points)