QUESTION START a) Discuss two advantages and two disadvantages of going public for firms. (4 marks) b) A company makes an initial public offering of shares to raise $350 million, at an offer price of $5 per share. The issue is underwritten at $4.70. The costs of preparing the prospectus, legal fees, ASIC registration and other administrative costs add up to $750,000. If the firms' share price closes at $5.20 on its first day of trade. What is the total cost of the IPO? (4 marks) c) Explain two important roles of investment bankers in the process of IPO. (2 marks)