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Blue Corporation stock currently sells for $70 per share. There are 3 million shares currently outstanding. The company announces plans to raise $8 million by
Blue Corporation stock currently sells for $70 per share. There are 3 million shares currently outstanding. The company announces plans to raise $8 million by offering shares to the public at a price of $70 per share. If the underwriting spread is 4%, how many shares will the company need to issue in order to be left with net proceeds of $8 million? Enter your answer as a whole number not in millions. (For example, 1,000,000 not 1 million.) Shares = Section Attempt 1 of 1
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