Firm X needs to net $8,000,000 from the sale of common stock. Its investment banker has informed the firm that the retai

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answerhappygod
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Firm X needs to net $8,000,000 from the sale of common stock. Its investment banker has informed the firm that the retai

Post by answerhappygod »

Firm X needs to net $8,000,000 from the sale of common stock.
Its investment banker has informed the firm that the retail price
will be $23 per share, and that firm X will receive $20.00 per
share. Out-of-pocket costs are $400,000. How many shares must be
sold to achieve the desired net to the issuing
firm? (Round up your answer to nearest whole
number.)
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