Suppose that you have 650 shares of Average Joes Gym stock in your portfolio. Average Joes is an all equity firm that has 75,000 shares of stock outstanding at a market price of $40 a share. The company's earnings before interest and taxes are $140,000. Average Joes has decided to issue $1.5 million of debt at 8 percent interest. This debt will be used to repurchase shares of stock. How many shares of Average Joes stock must you sell to un-lever your position if you can loan out funds at 8 percent interest