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Caspian Sea Drinks needs to raise $32.00 million by issuing additional shares of stock. If the market estimates CSD will pay a dividend of $2.53

Caspian Sea Drinks needs to raise $32.00 million by issuing additional shares of stock. If the market estimates CSD will pay a dividend of $2.53 next year, which will grow at 3.43% forever and the cost of equity to be 13.09%, then how many shares of stock must CSD sell?

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