The Whistling Straits Corporation needs to raise $20 million to finance its expansion into new...
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The Whistling Straits Corporation needs to raise $20 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 $40 per share and the company's underwriters charge an 7 percent spread. If the SEC filing fee and associated administrative expenses of the offering are $880,000, how many shares need to be sold? Multiple Choice 561.290 537.634 487,850 583 742 Multiple Choice 561,290 O 537,634 487.850 583,742 O 522.000
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