Boone, Inc. is looking to acquire the Astros Corporation, in a stock swap, where Boone will pay a 20% premium over Astro's market price. The data for the two companies are as follows: Astro Corp. Boone Total earnings........................................................... $1,000,000 $4,000,000 Number of shares of stock outstanding........................................................... 400,000 2,000,000 Earnings per share........................................................... $2.50 $2.00 Price-earnings ratio (P/E)........................................................... 12 15 Market price per share........................................................... $30 $30

How many shares must Boone issue to buy the Astros Corp. assuming the merger is completed fully via a stock exchange (stock swap)?