Magenta Corporation wants to raise $50.5 milion in a seasoned equity offering, net of all fees. Magenta stock currently sells for $10 per share. The underwriters will require a spread of $0.5 per share, and indicate that the issue must be underpriced by 4 percent In addition to the underwiter's fee, the firm wil incur $1,500,000 in legal, accounting, and other costs. How many shares must Magenta sell? Note: Enter your onswer in millions rounded to 3 decimal places