Sterling, Cooper, Draper, Price would like to go public to raise $40 million to support expected growth. Their investment bank charges the following:

5.9% underwriting spread for a firm commitment

$239,144 in legal fees

The underwriter feels that the IPO will be priced at $24.49 per share. How many shares must be issued to net the company the proceeds it needs to fund its future investment (Hint: The total amount issued must cover the required net proceeds plus all fees and the underwriter's spread)?