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Jones Men's Wear would like to expand the firm's operations but needs $3.5 million in additional funding. It has opted to raise the necessary funds

Jones Men's Wear would like to expand the firm's operations but needs $3.5 million in additional funding. It has opted to raise the necessary funds through a rights offering at a subscription price of $27.50 a share. The current market price of their stock is $34 a share. How many shares of stock will the firm need to sell through the rights offering to fund the expansion?

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