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An underwriter is selling stock to the public at $40 per share with a firm commitment contract, the underwriter receives a $3 per share spread,

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An underwriter is selling stock to the public at $40 per share with a firm commitment contract, the underwriter receives a $3 per share spread, and the issuing firm receives $111 million from the underwriter. Calculate the number of shares sold to the public. (I WANT TO SEE YOUR STEPS FOR THE RESULT. JUST SHOWING THE RESULT WILL NOT BE ACCEPTED. ADDITIONALLY, STRONG SIMILARITIES IN THE CALCULATIONS WILL BE CONSIDERED AS CHEATING.) (15 Points)

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