Disturbed Corp. needs to raise $61 million to fund a new project. The company will sell shares at a price of $24.50 in a general cash offer and the company's underwriters will charge a spread of 7.5 percent. The direct flotation costs associated with the issue are $925,000 and the indirect costs are $525,000. How many shares need to be sold?

• A. 2,489,796 shares
• B. 2,622,725 shares
• C. 2,755,654 shares
• D. 2,336,023 shares
• E. 2,351,210 shares