The Beranek Company, whose stock price is now $20, needs to raise $15 million in common stock. Underwriters have informed the firm's management that they must price the new issue to the public at $15 per share because of signaling effects. The underwriters' compensation will be 5% of the issue price, so Beranek will net $14.25 per share. The firm will also incur expenses in the amount of $160,000. How many shares must the firm sell to net $15 million after underwriting and flotation expenses Do not round intermediate calculations. Round your answer to the nearest whole number.

shares