Jillian's Landscaping needs to net $5,000,000 from the sale of common stock. Its investment dealer has informed the firm that the retail price will be $15 per share. Administrative costs are $50,000 and the dealer is charging 5% flotation costs underwrite the issue. How many shares must be sold?

Select one:

a. 333,333

b. 385,965

c. 354,386

d. 350,877