ACME Corporation has decided to go public. It is going to issue $50$ millionshares.The underwriters acquired the shares for $$24\mathrm{.}50$ per share from ACME and soldthem to the public at an offering price of $$30\mathrm{.}50$ per share.By the end of the trading day the stocks had risen to $$34\mathrm{.}50$ per share.Acme also incurred $$3\mathrm{.}55$ million dollars in other legal and administrativeexpenses, in issuing the IPO.$($a$)$ What were the underwriting expenses of the ACME IPO?$($b$)$ What was the cost of underpricing?$($c$)$ What were the total Flotation Costs of the IPO?$($d$)$ What percentage $(\%)$ of the market value of the shares did theflotation costs represent?