Lasko's Has 250,000 Shares of Stock Outstanding,$400,000 in Perpetual Annual

Lasko's has 250,000 shares of stock outstanding,$400,000 in perpetual annual earnings,and a discount rate of 16 percent.The firm is considering a new project that has initial costs of $350,000 and annual perpetual cash flows of $60,000.How many new shares must be issued to fund the new project? Ignore taxes.

A) 34,653
B) 33,928
C) 35,000
D) 36,028
E) 34,209