A company wants to raise $15 million to fund a project. The company estimates the issue costs including the legal and accounting fees will be $470,900. The underwriters have set the stock price at $20.70 per share and the underwriting spread at 7.06%. How many common shares does the company have to sell to meet its cash need?

a) 784, 056

b) 804 160

c) 824, 264

d)844,368

e)864,472