[Solved] Authorized and available shares Aspin Corporation’s charter authorizes issuance of shares of common stock. Currently, shares are outstanding, and shares

Authorized and available shares Aspin Corporation’s charter authorizes issuance of shares of common stock. Currently, shares are outstanding, and shares are being held as treasury stock. The firm wishes to raise for a plant expansion. Discussions with its investment bankers indicate that the sale of new common stock will net the firm $ per share. a. What is the maximum number of new shares of common stock that the firm can sell without receiving further authorization from shareholders? b. Judging by the data given and your finding in part a, do you think the firm will be able to raise the needed funds without receiving further authorization? c. What must the firm do to obtain authorization to issue more than the number of shares found in part a?

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