LaJolla Securities Inc. specializes in the underwriting of small companies. The terms of a recent offering were as follows: Number of shares 2 million Offering price $24 per share Net proceeds $37 million LaJolla Securities' expenses associated with the offering were $500,000. Determine LaJolla Securities' profit on the offering if the secondary market price of the shares immediately after the offering began were as follows:
A. $23 per share: $ _________ million
B. $24 per share: $ _________ million
C. $28 per share: $ _________ million