The Elkmont Corporation needs to raise $51.6 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 $32 per share and the companys underwriters charge a spread of 7 percent. The SEC filing fee and associated administrative expenses of the offering are $1,456,000. (Enter your answer as directed, but do not round intermediate calculations.) Required: How many shares need to be sold?