eBook Problem Walk-Through Underwriting and Flotation Expenses The Beranek Company, whose stock price is now $20, needs to raise $30 million in common stock. Underwriters have informed the firm's management that they must price the new Issue to the public at $16 per share because of signaling effects. The underwriters' compensation will be 3% of the issue price, so Beranek will net $15.52 per share. The firm will also incur expenses in the amount of $140,000. How many shares must the firm sell to net $30 million after underwriting and flotation expenses? Do not round Intermediate calculations. Round your answer to the nearest whole number. shares