The Elkmont Corporation needs to raise $52.3 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 $39 per share and the companys underwriters charge a spread of 7.5 percent. The SEC filing fee and associated administrative expenses of the offering are $1,463,000. (Enter your answer as directed, but do not round intermediate calculations.)

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How many shares need to be sold? (Enter the whole number for your answer, not millions (e.g., 1,234,567). Round your answer to the nearest whole number (e.g., 1,234,567).)