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Mountain Mining requires $3.3 million to expand its current operations and has decided to raise these funds through a rights offering at a subscription price

Mountain Mining requires $3.3 million to expand its current operations and has decided to raise these funds through a rights offering at a subscription price of $18 a share. The current market price of the company's stock is $24.70 a share. How many shares of stock must be sold to fund the expansion plans?

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