The MEP company has issued 5,090,000 new shares. Its investment bank agrees to underwrite these shares on a best efforts basis. The investment bank is able to sell 4,290,000 shares for $54 per share. It charges MEP $1.70 per share sold.

a.	How much money does MEP receive? (Do not round intermediate calculations.)

Amount received by MEP

$

b.	What is the investment banks profit?

Investment banks profit

$

c.	What is the stock price of MEP?

Stock price of MEP

$