QuestionAspin Corp can issue 2M shares; 1.4M are out, 100K are treasury. They need \$48M at \$60/share. Find max new shares, if they can raise funds, and steps for more authorization.

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To obtain authorization to issue more than the number of shares found in part a, the firm must hold a vote among the shareholders. The proposal to issue more shares must receive the approval of a majority of the shareholders.
a. The maximum number of new shares of common stock that the firm can sell without receiving further authorization from shareholders is500,000. b. The firm will not be able to raise the needed funds without receiving further authorization. c. The firm must hold a vote among the shareholders to obtain authorization to issue more than the number of shares found in part a.