Question: High Mountain Mining wants to expand its current operations and requires $2.7 million in additional funding to do so. After discussing this with the major

High Mountain Mining wants to expand its current operations and requires $2.7 million in additional funding to do so. After discussing this with the major shareholders, the company decided to raise the necessary funds through a rights offering at a subscription price of $20 per share. The current market price of the company's stock is $22.70 per share.

How many shares will the company have to sell through the rights offering to finance the expansion plans? (Round up to the next whole part.)

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