(Answered) Captain jacks shipyard inc needs to raise 25 million to

Finance

Captain Jack's Shipyard, Inc., needs to raise $25 million to finance expansion. The company's investment bank recommends an offer price (or gross proceeds) of $37 a share, with Captain Jack's Shipyard, Inc., receiving $35.15 per share. How many shares of stock will the company have to sell to receive the $25 million it needs?

A. 645,321.41 shares

B. 934,145.88 shares

C. 711,237.55 shares

D. 824,355.61 shares

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