An Investment Banker Agrees to Underwrite an Issue of 10

An investment banker agrees to underwrite an issue of 10 million shares of stock for Rochester Industries on a best-efforts basis. The investment banker is able to sell 8 million shares for $10.50 per share, and it charges Rochester Industries $0.225 per share sold. What is the profit to the investment banker it sells 8 million shares for $9.75 per share?

A) Profit of $1,000,000.
B) Loss of $7,500,000.
C) Profit of $7,000,000.
D) Loss of $7,000,000.
E) Profit of $1,800,000.