Granvenstein Chemicals wishes to raise $5 million by an issue of stock. It expects direct expenses to absorb 1 percent of the money raised and the underwriters to charge a spread of 4 percent. If the announcement of the issue is likely to cause the price of Gravenstein stocks to fall to $80 from its current price $82. Calculate the minimum number of shares that the company must sell to ensure that it raise the required $5 million.