The Purple Corp. needed to raise $$14$ million in an IPO and chose an investment banker to underwrite the issuance of its common stock. The underwriting agreement was for the sale of $3$ million shares and provide $$14$ million in net proceeds the company. The out$-$of$-$pocket expenses incurred by the investment banker were #$300,000.$ What profit or loss did the investment banker incur if the issue were sold to the public at the following average price?