Tim Shaw is a portfolio manager of a large fund. It is December 2021 and Tim intends to sell two bonds he holds. Each bond has a face value of $100,000, a coupon rate of 8% p.a., paid half-yearly, and a yield to maturity of 10% p.a. The first bond will mature in three years and the second bond will mature in 5 years. With the funds Tim intends to buy Sapphire Ltd shares. Sapphire Ltd shares just paid a dividend of $1.20 per share in December 2021. Tim believes the dividend is expected to increase by 20% in December 2022, 15% in December 2023, 10% in December 2024, and thereafter by 5% per year forever from December 2025 onwards. Tim requires a 12% p.a. return on Sapphire Ltd shares. If Tim sells both bonds and use the funds to buy Sapphire Ltd shares, how many shares he can buy? (Show all calculations to two decimal places, show final answer correct to whole number.)