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On January? 20, Metropolitan Inc. sold 8 million shares of stockin an SEO. The market price of Metropolitan at the time was $ 41.50per share. Of the 8 million shares? sold, 4 million shares wereprimary shares being sold by the? company, and the remaining 4million shares were being sold by the venture capital investors.Assume the underwriter charges 4.5 % of the gross proceeds as anunderwriting fee.a. How much money did Metropolitan ?raise???Round to two decimalplacesb. How much money did the venture capitalists? receive? Round totwo decimal placesc. If the stock price dropped 3.5 % on the announcement of theSEO and the new shares were sold at that? price, how much moneywould Metropolitan ?receive? Round to two decimal places
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