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Suppose Reindeer Corp. has hired BigMoney Inc (BMI), an investment bank, as the underwriter for its IPO. BMI has set the offering price of the

Suppose Reindeer Corp. has hired BigMoney Inc (BMI), an investment bank, as the underwriter for its IPO. BMI has set the offering price of the share to $38 per share. The underwriters will charge a 6.6% spread. How many shares must the company sell to net $87.01 million, ignoring any other expenses?

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