The Mighty K Co. needs $14 million to finance a new project. The company plans to issue new shares of common stock at a price of $19 per share to fund this project. The underwriting fee is 7%.
How many new shares of stock must company issue?
A) 688,637
B) 788,421
C) 789,098
D) 792,303
E) 801,357
Correct Answer:
Verified
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