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Gravity, Inc., needs to raise $51 million to fund its expansion plans. The company will...

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Finance

Gravity, Inc., needs to raise $51 million to fund its expansion plans. The company will sell shares at a price of $28.60 in a general cash offer and the company's underwriters will charge a spread of 7.5 percent. How many shares need to be sold?

A. 1,783,217 shares

B.1,421,834 shares

C.1,658,806 shares

D. 1,927,802 shares

E. 2,142,002 shares

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