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Business, 21.10.2020 16:01 fangkronos

Business is booming for Cargill Company, so the firm has decided to expand its operations internationally. The company will sell new shares of common stock using a general cash offering in order to raise the $16.8 million it needs to fund its overseas expansion. Cargill's investment bankers agreed to a spread of 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 Cargill to receive the expansion funds it needs

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