Underwriting and Flotation Expenses The Beranek Company, whose stock price is now $35, needs to raise $13 million in common stock. Underwriters have informed the firm's management that they must price the new issue to the public at $33 per share because of signaling effects. The underwriters' compensation will be 3% of the issue price, so Beranek will net $32.01 per share. The firm will also incur expenses in the amount of $80,000. How many shares must the firm sell to net $13 million after underwriting and flotation expenses? Do not round intermediate calculations. Round your answer to the nearest whole number. 582003 shares