Foster Enterprises' stock is trading for $56 per share and there are currently 12 million shares outstanding. It would like to raise $115 million. If its underwriter charges 7% of gross proceeds, a. How many shares must it sell? 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 2,208,141 shares. (Round to the nearest 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? If the stock price drops by 1%, the total number of shares it must sell will be shares. (Round to the nearest integer) 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? If all of the shares are primary shares and are sold to new investors, the existing ownership will drop by % (Round to two decimal places.)