Filing and legal fees related to the stock issue

Reference no: EM13155239

Wear ever is expanding and needs 12.6 million to help fund this growth. The firm estimates it can sell new shares of stock for $32.50 a share. it also estimates it will cost an additional $340,000 for filing and legal fees related to the stock issue. The underwriters have agreed to a 7.5 percent spread. How many shares of stock must wear ever sell if it is going to have $12.6 million available for its expansion needs?

Reference no: EM13155239

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