The Food Network Needs to Raise $16

The Food Network needs to raise $16.8 million to expand its operations nationally.The company will sell new shares of common stock using a general cash offering.The underwriters spread will be 7.85 percent, the administrative costs will be $515,000, and the offer price will be $21 per share.How many shares of stock must be sold for the company to receive the expansion funds it needs?

A) 894,763 shares
B) 938,311 shares
C) 947,222 shares
D) 814,141 shares
E) 892,674 shares