Gravenstein Chemicals wishes to raise $5 million by an issue of stock. It expects direct expenses to absorb 1% of the money raised and the underwriters to charge a spread of 4%. If the announcement of the issue is likely to cause the price of Gravenstein stock to fall to $80 from its current level of $82, what is the minimum number of shares that the company must sell to ensure that it raises the required $5 million?