ADP,Incneeds to Raise $32 Million to Finance Its Expansion into New

ADP,Inc.needs to raise $32 million to finance its expansion into new markets.The company will sell new shares of equity via a general cash offering to raise the needed funds.If the offer price is $45 per share and the company's underwriters charge an 8.25 percent spread,how many shares need to be sold?

A) 648,729 shares
B) 691,208 shares
C) 723,467 shares
D) 775,053 shares
E) 775,323 shares