XYZ used an investment bank to do IPO. In IPO, XYZ sold 1 million shares at $69.46 each. The investment bank charged 7% spread. At the end of the 1st day of trading, XYZ stock price closed at $71.05. Calculate the total cost of IPO. That is, what is the sum of direct and indirect cost?

XYZ is a retailer and sells 183,000 units per year. It purchases from a single supplier. Fixed costs per order are $821 and carrying cost is $9 per unit per year. In economic order quantity model, what would be the lowest total inventory cost? That is, the lowest sum of total carrying cost and total shortage cost.