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Filing and legal fees related to the stock issue

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Reference no: EM131187927

Wear Ever is expanding and needs $11 million to help fund this growth. The firm estimates it can sell new shares of stock for $25 a share. It also estimates it will cost an additional $350,000 for filing and legal fees related to the stock issue. The underwriters have agreed to a 5 percent spread. How many shares of stock must the firm sell if it is going to have $11 million available for its expansion needs

Reference no: EM131187927

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