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DEF Inc. has a the capital structure shown below. Liabilities $55,000,000 Stockholders' Equity $25,000,000 Total Liabilities and Stockholders' Equity $80,000,000 DEF Inc. will raise additional

DEF Inc. has a the capital structure shown below.

Liabilities $55,000,000
Stockholders' Equity $25,000,000
Total Liabilities and Stockholders' Equity $80,000,000

DEF Inc. will raise additional capital for new projects this year, in the amount of $8,562,295. In order to raise the funds they will need to issue shares, and they expect to issue them at a price of $31.51. Assuming the current capital structure is ideal, how many share will the company have to sell in order to raise the necessary equity?

Do not round any intermediate calculations. Please round your answer to the nearest share.

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