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Bonus: The managers of NewPorte Properties, Inc. estimate that they need $4 million to support the company's expected growth. The owners and managers have

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Bonus: The managers of NewPorte Properties, Inc. estimate that they need $4 million to support the company's expected growth. The owners and managers have decided that they should go public and issue stock to fund their expansion. work are The underwriting fees charged by the investment banking firm for which you 10.5% for such issue sizes. In addition, it is estimated that NewPorte will incur $50,000 in other expenses related to the IPO. If your analysis indicates that NewPorte's stock can be sold for $10.25 per share, how many shares must be issued to net the company the $4 million it needs? (Worth up to 10 points)

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