Arnold's start-up business is succeeding, but he needs $207,000 in additional funding to fund continued growth. Arnold and an Luci investor agree the business is worth $828,000 and the Luci has agreed to invest the $207,000 that is needed. Arnold presently owns all 36,000 shares in his business. Because the stock will be sold directly to an investor, there is no spread; the other flotation costs are insignificant.

What is a fair price per share? Do not round intermediate calculations. Round your answer to the nearest cent.

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How many additional shares must Arnold sell to the Luci? Do not round intermediate calculations. Round your answer to the nearest whole number.

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