Pricing Stock Issues

Benjamin Garcia's start$-$up business is succeeding, but he needs $$191,000$ in additional funding to fund continued growth. Benjamin and an angel investor agree the business

is worth $$764,000$ and the angel has agreed to invest the $$191,000$ that is needed. Benjamin presently owns all $41,000$ shares in his business. Because the stock will be sold

directly to an investor, there is no spread; the other flotation costs are insignificant.

What is a fair price per share? Do not round intermediate calculations. Round your answer to the nearest cent.

$

How many additional shares must Benjamin sell to the angel? Do not round intermediate calculations. Round your answer to the nearest whole number.

shares