Company need to issue in order to be left with net proceeds

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Reference no: EM131847894

Young Corporation stock currently sells for $30 per share. There are 1 million shares currently outstanding. The company announces plans to raise $5 million by offering shares to the public at a price of $30 per share. a. If the underwriting spread is 8%, how many shares will the company need to issue in order to be left with net proceeds (before other administrative costs) of $5 million ? (Do not round intermediate calculations. Round your answer to the nearest whole number.)

Reference no: EM131847894

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