Jasmine Flowers must raise $407 million for its future expansion. To do so, Jasmine expects to issue new common stock. Investment bankers have informed the
Jasmine Flowers must raise $407 million for its future expansion. To do so, Jasmine expects to issue new common stock. Investment bankers have informed the company the flotation costs will be 6.5 percent of the total amount issued plus $192,500 in additional costs associated with the issue. Jasmine can issue its stock for $65 per share. Determine how many shares Jasmine must sell to net $407 million after flotation costs. Round your answer to the nearest whole number.
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