How many shares must be sold to achieve

Reference no: EM13272319

Firm X needs to net $12,800,000 from the sale of common stock. Its investment banker has informed the firm that the retail price will be $22 per share, and that the firm will receive $18.50 per share. Out-of-pocket and underwriting costs are $250,000. How many shares must be sold to achieve the desired net to the issuing firm?

a. $581,526
b. $654,545
c. $659,091
d. $705,406

Reference no: EM13272319

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