Which statement is correct?$11$Multiple Choice$2$points$801$:$33$:$03$ReferencesTaxes are an indirect underwriting costThe total direct cost as a percentage of gross proceeds for an IPO tends to decrease as the size of the offer decreasesSeasoned equity offerings $($SEls$)$ tend to be less costly than IPOsStraight bonds are more costly to issue than convertible bonds.The underwriters pay the spread.