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Jenny Corporation needs to raise $50.5 million to fund a new project. The company will sell shares at a price of $28.50 in a general
Jenny Corporation needs to raise $50.5 million to fund a new project. The company will sell shares at a price of $28.50 in a general cash offer and the company's underwriters will charge a spread of 7 percent. The direct flotation costs associated with the issue are $800,000. How many shares need to be sold? Multiple Choice 1,853,707 shares 1,656,009 shares 1,771,930 shares 1,713,970 shares 1,935,484 shares
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