Question: Problem 15-5 Calculating Flotation Costs [LO3] The Meadows Corporation needs to raise $66 million to finance its expansion into new markets. The company will sell

Problem 15-5 Calculating Flotation Costs [LO3]

The Meadows Corporation needs to raise $66 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds. If the offer price is $65 per share and the companys underwriters charge a spread of 6 percent, how many shares need to be sold?

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