The Elkmont Corporation needs to raise $$51\mathrm{.}1$

million to finance its expansion into new

markets. The company will sell new shares of

equity via a general cash offering to raise the

needed funds. The offer price is $$27$ per share

and the company's underwriters charge a

spread of $7\mathrm{.}5$ percent. The SEC filing fee and

associated administrative expenses of the

offering are $$1,451,000.$ How many shares need

to be sold?

Note: Do not round intermediate calculations

and enter your answer in shares, not millions of

shares, rounded to the nearest whole number,

e$.$g$.,1,234,567.$