Pricing Stock Issues in an IPO

Dode Industries has hired the investment banking firm of Eric, Schwartz, & Mann $($ESM$)$ to help it go public. Dode and ESM agree that Dode's current value of equity is $$58$

million. Dode currently has $5$ million shares outstanding and will issue $1\mathrm{.}1$ million new shares. ESM charges an $8\%$ spread.

What is the correctly valued offer price? Do not round intermediate calculations. Round your answer to the nearest cent.

$

How much cash will Dode raise net of the spread $($use the rounded offer price$)?$ Round your answer to the nearest dollar.

$