Wear ever is expanding and needs $12.6 million to help fund this growth. the firm estimates it can sell new shares of stock for $32.50 a share. it also estimates it will cost an additional $340,000 for filing and legal fees related to the stock issue. the underwriters have agreed to a 7.5 percent spread. how many shares of stock must wear ever sell if it is going to have $12.6 million available for its expansion needs?
What is the formula for processing this question and how is it used?
The Solution provides the number of shares of stock that Wear ever must sell as per requirement.