Foster Enterprises' stock is trading for $$58\mathrm{.}70$ per share and there are currently $7$ million shares outstanding. It would like to raise $$105$ million. If its underwriter charges $5\%$ of gross proceeds,

a$.$ How many shares must it sell?

b$.$ If it expects the stock price to drop by $2\%$ 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 $1,882,901$ shares. $($Round to the nearest integer.$)$

b$.$ If it expects the stock price to drop by $2\%$ upon announcement of the SEO, how many shares should it plan to sell?

If the stock price drops by $2\%,$ the total number of shares it must sell will be shares. $($Round to the nearest integer.$)$

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