Huskers Tuxedos, Inc., needs to raise $265 million to finance its plan for nationwide expansion. In discussions with its investment bank, Huskers learns that the bankers recommend an offer price (or gross price) of $40 per share and they will charge an underwriters spread of $2.50 per share.

Calculate the net proceeds per share to Huskers from the sale of stock. (Round your answer to 2 decimal places.)

Net proceeds

$ per share

How many shares of stock will Huskers need to sell in order to receive the $265 million needed?

Number of shares sold

shares