The Whistling Straits Corporation needs to raise $64 million to finance its expansion into new markets. The company will sell new shares of equity via a general cash offering to raise the needed funds. If the offer price is $60 per share and the company’s underwriters charge a spread of 5 percent, how many shares need to be sold? (Do not round intermediate calculations and enter your answer in dollars, not millions, rounded to the nearest whole number, e. g., 1,234,567.)

Hence $21,700,000 shares are to be sold to raise the needed funds.

Explanation:

Per-share offer price of company = $60, which includes company's underwriter spread of 5%

So, actual realization to company on $60 per share = (1 - 0.95) * 60

Actual realization to company on $60 per share = $ 3

To raise $64 million company also needs to cover administrative expenses of $1.2 million

So,

Total number of shares sold(in million) = (64 + 1.2)/3

Total number of shares sold = 21,700,000 shares

corrosion is a natural process, which converts a refined metal to a more chemically-stable form, such as its oxide, hydroxide, or sulfide. it is the gradual destruction of materials (usually metals) by chemical and/or electrochemical reaction with their environment.

explanation:

you have to put the parentheses like this:

in fact, you have to perform the operation inside parentheses first, and then proceed in order: