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Clubb Coffee wants to raise $20.8 million to expand its global coffee roasting operations. The company estimates the issue costs for legal and accounting fees

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Clubb Coffee wants to raise $20.8 million to expand its global coffee roasting operations. The company estimates the issue costs for legal and accounting fees will be $311,000. The underwriters have set the stock price at $30.50 per share and the underwriting spread at 8.2 percent. How many shares of stock must be sold to meet this cash need? Multiple Choice 731,776 O 492.036 753,991 O 628.430

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