How many shares need to be sold

Reference no: EM13263525

The Elkmont Corporation needs to raise $49 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds. The offer price is $26 per share and the company's underwriters charge a spread of 7.5 percent. (Enter your answer as directed, but do not round intermediate calculations.)

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How many shares need to be sold?

Reference no: EM13263525

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