A company is considering a project that would cost $5,000,000, which would be financed with the issue of new shares. The project is expected to increase net income by $900,000. Currently, the company has 2,000,000 shares outstanding that sell on the market for $25 each while the book value per share is $32. Assume the companys current PE ratio of 16 would remain constant. If the company proceeds with the project, what is expected to be its new number of shares outstanding?

Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit any commas in your response. For example, an answer of 1,000.50 should be entered as 1000.50.