The Norman Company needs to raise $50 million of new equity capital. Its common stock is currently selling for #50 per share.

The Norman Company needs to raise $50 million of new equity capital. Its common stock is currently selling for #50 per share. The investment bankers require an under-writing spread of 3 percent of the offering price. Th company's legal, accounting, and printing expenses, associated with the second offering, are estimated to be $750,000. How many new shares must the company sell to net $50 million