16. Newdex has net income of $4,500,000 and 1,000,000 shares outstanding. It needs to raise $6,500,000 in funds for a new asset. Its investment banker plans to sell an issue of common stock to the public for $40, less a spread of 10%. How much must Newdex's after-tax income increase to prevent dilution of EPS? (Round EPS" to 1 decimal place, intermediate and final answers to the nearest whole dollar amount.) $506,250 O $812,502 O $731.250 O None of these