Question 10 (2 points) Niagara Novelty Stores stock trades at $46 per share and there are 34 million shares outstanding. The management would like to raise $130 million in an SEO and current investors would like to sell $30 million of their own stock. If the underwriter charges 6% of gross proceeds, how many shares must it sell in the total (primary and secondary) offering? 3.70 million 3.26 million 4.16 million 3.91 million 3.47 million