question 15:

Authorized and available shares Aspin Corporation's chater authorizes issuanco of 2,700,000 shares of common stock. Currently, 1,300,000 sharos aro outstanding, and 100,000 shares are being held as treasury stock. The firm wishes to raite $09,000,000 for a plant expansion. Discussions with its investinent bsrikers indicale that the sale of new common stock will net the firm $55 per share. a. What is the maximum number of new shares of common stock that the firm can sell without roceiving further authorization from sharehoiders? b. Judging by the data given and your finding in part a, do you think the fim will be able to raise the needed funds without roceiving further authorization? c. What must the firm do to obtain aushorization to issue more than the number of shares found in part a? a. The mavirnum number of new shares of common stock that the firm can sell without receiving further authorization is: thares. (Round to the noarest whole number.)