Jameson Vineyards and Winery needs to raise $2 million in new equity. If the costs of the share issue are estimated to be 7 percent of gross proceeds, how large does the offering need to be? How much will Jameson pay in flotation costs? If the underwriters give a discount and only charge 5 percent of gross proceeds, how large does the offering need to be? How much will Jameson save on flotation costs?