(Answered) Administrative expenses of the offering

Finance

Problem: The St. Anger Corporation will sell new shares of equity via a general cash offering to raise $84,000,000 to finance its expansion. The offer price is $50 per share and the company's underwriters charge a spread of 7 percent. If the SEC filing fee and associated administrative expenses of the offering are $850,000, how many shares need to be sold? Explain your answers and provides examples.

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