The Bread Basket Needs to Raise $38 Million to Expand

The Bread Basket needs to raise $38 million to expand its operations nationally.The company will sell new shares of common stock using a general cash offering.The underwriters charge a 7.65 percent spread,the administrative costs are $395,000,and the offer price is $28 per share.How many shares of stock must be sold for The Bread Basket to receive the total funds it desires?

A) 1,484,840 shares
B) 1,638,311 shares
C) 1,663,022 shares
D) 1,814,141 shares
E) 1,833,333 shares