Suppose your company is planning go on public to raise capital for business project. The underwriting discount is $1.50 and there is a legal fee of $250,000. If the offering price of the share is set at $21.50 per share, how many shares does the company have to issue to raise $80 million?

Select one:

a. 4 012 500

b. 6 696 429

c. 6 591 337

d. 5 789 452