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The Beranek Company, whose stock price is now $ 3 5 , needs to raise $ 1 6 million in common stock. Underwriters have informed

The Beranek Company, whose stock price is now $35, needs to raise $16 million in common stock. Underwriters have informed the firm's management that they must price the new issue to the public at $32 per share because of signaling effects. The underwriters' compensation will be 4% of the issue price, so Beranek will net $30.72 per share. The firm will also incur expenses in the amount of $90,000. How many shares must the firm sell to net $16 million after underwriting and flotation expenses? Do not round intermediate calculations. Round your answer to the nearest whole number.
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