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1. Goldbelly needs to raise $250 million to finance its expansion into new markets. The firm will sell new shares of stock via an IPO.

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1. Goldbelly needs to raise $250 million to finance its expansion into new markets. The firm will sell new shares of stock via an IPO. If the offer price is $35 per share, they will incur legal and administrative expenses of $850,000, and the firm's underwriters charge a gross spread of 6%, how many shares does the firm need to sell

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