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1. The St. Anger Corporation needs to raise $45 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds. If the offer price is $31 per share and the company's underwriters charge a spread of 7 percent, how many shares need to be sold?

2. in the previous problem, if the sec filing fee and associated administration expenses of the offering are 1,900,000 how many shares need to be sold?

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