Outdoor Living needs $7.5 million to finance modifications toits production equi

Outdoor Living needs $7.5 million to finance modifications toits production equipment because the design of its all-season tentshas changed dramatically. The underwriters estimate that the firmcould sell additional shares of stock at $14.50 a share with a 7.5percent underwriting spread. This would be a firm commitmentunderwriting. The estimated issue costs are $121000. How manyshares of stock will Outdoor Living need to sell to finance thisproject?