Bondi Bakery Needs to Raise $38 Million to Expand Its

Bondi Bakery needs to raise $38 million to expand its operations nationally.The company will sell new shares using a general cash offering.The underwriters charge a 7.65 per cent fee,the administrative costs are $395 000,and the offer price is $26 per share.How many shares of stock must be sold for Bondi Bakery to receive the total funds it desires?

A) 1 814 141 shares
B) 1 638 311 shares
C) 1 833 333 shares
D) 1 599 059 shares
E) 1 647 222 shares