The firm estimates it can sell new shares of stock for $20 a share.

Wear Ever is expanding and needs $9 million to help fund this growth. The firm estimates it can sell new shares of stock for $20 a share. It also estimates it will cost an additional $200,000 for filing and legal fees related to the stock issue. The underwriters have agreed to a 7 percent spread. How many shares of stock must the firm sell if it is going to have $9 million available for its expansion needs?