You are the only owner of a private company (Ocean Gas) that has 10 million shares outstanding. The company has planned for its initial public offering (IPO). The IPO price has been set at $50 per share, and the underwriting spread is 7%. The IPO is a big success. The number of shares sold in the primary offering is 8 million shares and the number of shares sold in the secondary offering is 6 million shares. The share price rises to $60 on the first day of trading. (i) How much would Ocean Gas raise from the IPO? (ii) How much would you receive from the IPO? And what is the percentage of your equity ownership in the firm after the IPO? (iii) Explain whether there is the underpricing situation in this IPO and who gains and who loses from this situation? (iv) Assume that the post-IPO value of Ocean Gas is its fair market value. Suppose Ocean Gas could have issued shares directly to investors at their fair market value, in a perfect market with no underwriting spread and no underpricing. Assuming that Ocean Gas could raise the same amount of funds that it would have with the investment banker handling the underwriting, what is the share price in this case? How many new shares would Ocean Gas issue