The fees for Canadian IPOs are ________ those for similar-sized IPOs in the U.S. but the total fee as a percent of the IPO size is calculated for every IPO, and the average percentage spread across all IPOs in Canada is ________ the average percentage spread across all IPOs in the U.S.

Question 6 options:

1)	higher than; less than
2)	higher than; also higher than
3)	less than; higher than
4)	less than; also less than