Foster Enterprises' stock is trading for $$54$ per share and there are currently $20$ million shares outstanding. It would like

to raise $$110$ million. If its underwriter charges $8\%$ of gross proceeds,

a$.$ How many shares must it sell? $($ROUND TO THE NEARST INTEGER$)$

b$.$ If it expects the stock price to drop by $1\%$ upon announcement of the SEO, how many shares should it plan to sell?

c$.$ If all of the shares are primary shares and are sold to new investors, what percentage reduction in ownership will all

of the existing shareholders experience?

a$.$ How many shares must it sell?

The total number of shares it must sell will be

shares. $($Round to the nearest integer.$)$