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The Scandrick Corporation needs to raise $ 4 2 million to finance its expansion into new markets. The company will sell new shares of equity

The Scandrick Corporation needs to raise $42 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 $40 per share and the companys underwriters charge a spread of 6 percent. If the SEC filing fee and associated administrative expenses of the offering are $625,000, how many shares need to be sold? (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.)

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