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How many shares of stock must plasti-tech sell

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Plasti-tech Inc. is a rapidly growing technology firm. To fund its next growth phase, the firm requires $1.2 million. The firm estimates that it can sell new shares of stock at a price of $55 a share. The estimate for legal, accounting, and other costs related to the stock issue are $450,000. The underwriters' spread is 6.5 percent. How many shares of stock must Plasti-tech sell to meet its financing need?

Reference no: EM132395505

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