The Whistling Straits Corporation needs to raise $25 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 $35 per share and the company's underwriters charge an 9 percent spread. If the SEC filing fee and associated administrative expenses of the offering are $1,000,000, how many shares need to be sold? Multiple Choice 848,980 R16 227