New Built Wants to Repurchase 15,000 of Its Shares at $32

New Built wants to repurchase 15,000 of its shares at $32 a share through a tender offer.Shareholders responded by offering 18,500 shares.Assume you are a shareholder and offered your 400 shares as part of the shareholder response.How many of your shares should you expect New Built to purchase?

A) 0 shares
B) 400 shares
C) 348 shares
D) 324 shares
E) 279 shares