The Meadows Corporation needs to raise $60 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 $25 per share and the company's underwriters charge a spread of 7 percent. If the SEC filing fee and associated administrative expenses of the offering are $550,000, how many shares need to be sold? (Do not round intermediate calculations and enter your answer in shares, not millions, rounded to the nearest whole number, e.g., 1,234,567.)