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Shanos Inc. Would like to finance an experimental cost-saving procedure by issuing new common stock. The corporation's existing common stock currently sells for $37.51. Management

Shanos Inc. Would like to finance an experimental cost-saving procedure by issuing new common stock. The corporation's existing common stock currently sells for $37.51. Management believes that they can issue new common stock at this price, incurring flotation costs of 5.91% of the current market price. What is the stock's net market price (net proceeds)?

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