Captain Jack's Shipyard, Inc., needs to raise $25 million to finance expansion. The company's

investment bank recommends an offer price (or gross proceeds) of $37 a share, with Captain Jack's

Shipyard, Inc., receiving $35.15 per share. How many shares of stock will the company have to sell to

receive the $25 million it needs?

A. 645,321.41 shares

B. 934,145.88 shares

C. 711,237.55 shares

D. 824,355.61 shares