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Wear Ever is expanding and needs $12 million to help fund this growth. The firm estimates it can sell new shares of stock for $40
Wear Ever is expanding and needs $12 million to help fund this growth. The firm estimates it can sell new shares of stock for $40 a share. It also estimates it will cost an additional $250,000 for filing and legal fees related to the stock issue. The underwriters have agreed to a 7 percent spread. How many shares of stock must the firm sell if it is going to have $12 million available for its expansion needs?
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