Ralph Lauren Corporation (NYSE: RL) recently issued stock in a Seasoned Equity offering in which it received a total of $872.65 million in new capital funding. The underwriter used a firm commitment offering in which the offer price was $115 and the underwriter's spread was $7.50. RL also paid legal and other administrative costs of $3 million for the SEO.

A.) Calculate the number of shares issued through this SEO

B.)What would be the SEO's first-day return (rate of return for an investor on the first day of trading) if the first day of trading closes at $128/share? Is this consistent with the historical evidence of the "money left on the table" by US firms in primary markets?