Question: Firm X needs to net $ 8 , 0 0 0 , 0 0 0 from the sale of common stock. Its investment banker has

Firm X needs to net $8,000,000 from the sale of common stock. Its investment banker has informed the firm that the retail price will be $24 per share, and that firm X will receive $21.00 per share. Out-of-pocket costs are $300,000. How many shares must be sold to achieve the desired net to the issuing firm?
Note: Round up your answer to nearest whole number.
Multiple Choice
390,238
400,238
410,238
395,239

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