The Meadows Corporation needs to raise $65.6 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 $56 per share and the companys underwriters charge a spread of 9 percent.

What are the required proceeds from the sale necessary for the company to pay the underwriter's spread?

Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.

How many shares need to be sold?

Note: Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to the nearest whole number, e.g., 1,234,567.