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Free Trade Partners needs to raise $18.6 million to expand its operations into South America. The company will sell new shares of common stock. The

Free Trade Partners needs to raise $18.6 million to expand its operations into South America. The company will sell new shares of common stock. The underwriters will charge a spread of 2.3 percent, the administrative costs will be $631,000, and the offer price will be $17 per share. How many shares of stock must be sold if the firm is to raise the funds it desires?

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