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Problem regarding sale of common stock

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Reference no: EM13131930

Firm X needs to net $7,800,000 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 $19 per share. Out-of-pocket costs are $100,000. How many shares must be sold?

A) 410,526

B) 354,545

C) 359,091

D) 415,790

Reference no: EM13131930

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