Landon, the CFO of Marshall Technology Incorporated is planning next year's capital budget. It is at its optimal capital structure, which is 15 percent debt and 85 percent common equity, and the company's earnings and dividends are growing at a constant rate of 12 percent. The last dividend, Do, was $1.00, and the companys stock currently sells at a price of $22 per share. The firm can raise debt at a 9 percent before-tax cost and is projecting net income to be $2,400,000 with a dividend payout ratio of 25 percent. If the firm issues new common stock, a 7 percent flotation cost will be incurred. The firm's marginal tax rate is 40 percent. If the company ends up spending $3.2 million of new capital, how much new common stock must be sold?