You are coordinating a bond placement to raise fund for company. The management has approval to issue a new five-year bond offering (bonds have a five-year life). The plan issuing 10,000 bonds at $1,000 each for $10 million total. The bonds have a 7% annual coupon once per year. Unfortunately, the market sentiment is not favourable, investment banker just informed you the bond pricing offering for 8% yield to maturity. The bonds will pay 7% interest rate. However, the market demands we pay 8%. How much will we now get from the offering net of the 2% fee the investment bankers get on the amount of $ they raise for us?