P7-1 (similar to) Authorired and available shares Aspin Corporation's charter authores issuance of 2,300,000 shares of common stock Currently, 1600,000 shares are outstanding, and 300.000 shares are being held as treasury stock. The firm wishes to raise $49,600,000 for a plant expansion Discussions with its investment bankers indicate that the sale of new common stock wil net the firm 555 per share 2. What is the maximum number of new shares of common stock that the firm can sell without receiving further authorization from shareholders? b. Judging by the data given and your finding in part a, do you think the firm will be able to raise the needed funds without receiving further authorization? What must the fim do to obtain authorization to see more than the number of shares found in parta? The maximum number of new shares of common stock that the firm can soll without receiving further authorization is shares (Round to the nearest Whole number)