The Scandrick Corporation needs to raise $74 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. If the offer price is $45 per share and the companys underwriters charge a spread of 6 percent, how many shares need to be sold?

The Scandrick Corporation needs to raise $74 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. If the offer price is $45 per share and the company's underwriters charge a spread of 6 percent, how many shares need to be sold? (Do not round intermediate calculations and enter your answers in shares, not millions of shares, rounded to the nearest whole number, e.g., 1,234,567.)