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The Tire Treader needs to raise $25 million to build a new manufacturing facility. The estimated direct costs of floating an equity issue to fund

The Tire Treader needs to raise $25 million to build a new manufacturing facility. The estimated direct costs of floating an equity issue to fund this project are $615,000 and the underwriting spread is 8.6 percent. What is the minimum number of shares of stock the firm must sell to reach its financing goal if the offer price is set at $28.50 a share?

983,339.00 shares

919,430.00 shares

937,816.00 shares

955,179.00 shares

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