Convex Incorporated Sells 10 Million Shares of Stock in an SEO-8

Convex Incorporated sells 10 million shares of stock in an SEO-8 million being primary shares issued by the company and 2 million being secondary shares sold by investors in the company. At the time of the sale, Convex's stock was selling at $7.50 per share. If the underwriter charges 4% of the gross proceeds as a fee, how much money was raised in the sale?

A) $46.08 million
B) $57.60 million
C) $60.48 million
D) $92.16 million