The Thompson Corp. wishes to restructure its finances and you are assigned the task of determining the feasibility of the plan. If the firm were to sell $6,500,000 worth of $1 par value common stock, it would be used to redeem a portion of its long-term debt. The offering price per share would be $27.00. How many shares will be offered?
6,500,000
240,741
250,000
2,500,000