Blue Corporation stock currently sells for $55 per share. There are 6 million shares currently outstanding. The company announces plans to raise $1 million by offering shares to the public at a price of $55 per share. If the underwriting spread is 9 %, how many shares will the company need to issue in order to be left with net proceeds of $1 million? Enter your answer as a whole number not in millions (For example, 1,000,000 not 1 million) Shares = 19980 Correct response: 19,980:10 If other administrative costs are $100,000, what is the dollar value of the total direct costs of the issue? Assume that 19,980 shares are issued. Enter your answer as a whole number Direct costs = Number Section Attempt 1 of 1 Verify Submit Assignment Quit & Save Question Menu Next