Don’s Captain Morgan, Inc. needs to raise $12.70 million to finance plant expansion. In discussions with its investment bank, Don’s learns that the bankers recommend an offer price (or gross proceeds) of $20.60 per share and Don’s will receive $16.75 per share.   Calculate the underwriter’s spread per share on the issue. (Round your answer to 2 decimal places.)     How many shares of stock will Don’s need to sell in order to receive the $12.70 million it needs? (Round your answer to the nearest whole number.)

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