Free Trade Partners needs to raise $22.4 million to expand its operations into South America. The company will sell new shares of common stock using a general cash offering. The underwriters will charge a spread of 7.6 percent, the administrative costs will be $631,000, and the offer price will be $32 per share. How many shares of stock must be sold if the firm is to raise the funds it desires? Multiple Choice 989,415 shares 1.051,515 shares 778.916 shares 989.415 shares 1,051,515 shares 778,916 shares 839,793 shares 911,502 shares