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Persian Rugs needs $$720$ million to support growth next year. If it issues n$$w common stock to raise the funds, the flotation $($issuance$)$ costs will be $4$ percent. If Persian can issue stock at $$150$ per share, how many shares of common stock must be issued so it has $$720$ million after flotation costs to use for its planned growth? Round your answer to the nearest whole number.

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