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Free Trade Partners needs to raise $19.2 million to expand its operations into South America. The company will sell new shares of common stock. The

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Free Trade Partners needs to raise $19.2 million to expand its operations into South America. The company will sell new shares of common stock. The underwriters will charge a spread of 5.6 percent, the administrative costs will be $631,000, and the offer price will be $25 per share. How many shares of stock must be sold if the firm is to raise the funds it desires

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