The Scandrick Corporation needs to ralse $$86$ million to finance Its expansion Into new

markets. The company will sell new shares of equity vla a general cash offering to ralse

the needed funds. The offer price is $$40$ per share and the company's underwriters

charge a spread of $8$ percent. If the SEC filling fee and assoclated administratlve

expenses of the offering are $$975,000,$ how many shares need to be sold? $($Do not

round Intermedlate calculatlons and enter your answer In shares, not millions of

shares, rounded to the nearest whole number, e$.$g$.,1,234,567.)$

Number of shares offered