Question: value 10.00 points P15-5 Calculating Flotation Costs [LO3] The Educated Horses Corporation needs to raise $35 million to finance its expansion into new markets. The

value 10.00 points P15-5 Calculating Flotation Costs [LO3] The Educated Horses Corporation needs to raise $35 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 $40 per share and the company's underwriters charge a 7 percent spread, how many shares need to be sold? O 940,860 O 817757 O 903,226 O 978,495 O 875,000

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