Answer Happy

A company is going public at $18 and will use the ticker XYZ.
The underwriters will charge a 7 percent spread. The company is
issuing 22 million shares, and insiders will continue to hold an
additional 44 million shares that will not be part of the IPO. The
company will also pay $1.5 million of audit fees, $2 million of
legal fees, and $900,000 of printing fees. The stock closes the
first day at $20. Answer the following questions:
At the end of the first day, what is the market capitalization
of the company? Enter your answer in millions. For example, an
answer of $1.2 million should be entered as 1.2, not 1,200,000. Do
not round intermediate calculations. Round your answer to one
decimal place.
$ million
What are the total costs of the offering? Include underpricing
in this calculation. Enter your answer in millions. For example, an
answer of $1.2 million should be entered as 1.2, not 1,200,000. Do
not round intermediate calculations. Round your answer to one
decimal place.
$ million