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PIUUID 13-2 Sidi tu Dividend policy and the issue of new shares of common stock Your firm needs to raise $10 million to finance capital

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PIUUID 13-2 Sidi tu Dividend policy and the issue of new shares of common stock Your firm needs to raise $10 million to finance capital expenditures for the coming year. The firm med 16 milion last year and will pay out at this amount in dividends. If the firm's CFO wants to france new investments using no more than 60 percent de francing, how much common stock will the firm have to issue to raise the needed $7.7 milion? How much common stock will the firm have to $ million (Round to two decimal places)

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