A company wants to ralse $500 million in a new stock issue. Its investment banker indicates that the sale of new stock will require 5 bercent underpricing and a 4 percent spread. (Hint the underpricing is 5 percent of the current stock price, and the spread is 4 bercent of the issue price.) a. Assuming the company's stock price does not change from its current price of $75 per share, what would be the Issue price to the public after underpricing? How many shares would the company need to sell?

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