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How do I calculate proceeds with given spread? The Meadows Corporation needs to raise $66.7 million to finance its expansion into new markets. The company

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The Meadows Corporation needs to raise $66.7 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds. The offer price is $67 per share and the company's underwriters charge a spread of 8.5 percent. What are the required proceeds from the sale necessary for the company to pay the underwriter's spread? Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567

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