EarGo Inc (EAR) needs to raise $80 million to finance a new expansion project. The offer price is $30 a share and the underwriter's spread is 8 percent. The administrative costs are estimated at $310,000. How many shares need to be sold for EarGo to get the needed funds?

Group of answer choices 3,105,755 shares 2,876,951 shares 2,909,783 shares 3,031,231 shares