Fletcher Corporation is debating whether to convert its all-equity capital structure to one that is 40% debt. Currently, there are 1833 shares outstanding selling at $66 per share. EBIT is expected to remain at $14143 per year forever. The interest rate on new debt is 5%, and there are no taxes.

Suppose that Fletcher goes through with the recapitalization, but you prefer the previous all-equity structure. You can unlever you position and re-create the original capital structure by selling a portion of your 100 shares and using that money to purchase the firm's debt issue. How many of your 100 shares must you sell? Answer is 40.00 please show all work