Problem #4 (10 Points) Your firm is selling 6 million shares in a firm commitment IPO. You are targeting an offer price of $34.50 per share. you would like to lower it to 5%. However, you are concerned that if you do so, they will argue for a lower offer price. Given the potential savings from a lower spread, how much Your underwriters have proposed a spread of 7%, but lower have?can the offer price go before you would have preferred to 7% to get 34.50 per