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Boat Emporium $($BE$)$ must raise $$450$ million. To do so$,$ BE expects to issue new common stock. BE's investment banker will charge issuing costs equal to $10$ percent of

the total amount issued. If the stock can be issued for $$200$ per share, how many shares must BE sell to net $$450$ million after flotation costs. Round yout answer to the

nearest whole number.

shares

Show how much of the issue will consist of flotation costs and how much BE will receive after flotation costs are paid. Enter your answers in dollars. For example, an

answer of $$2$ million should be entered as $2,000,000,$ not $2.$ Round your answers to the nearest dollar.

Floation costs: $

Net proceeds: $