Stock Valuation1. Authorized and available sharesAspin Corporation’s charter authorizes issuance of 2,000,000 shares of common stock. Currently, 1,400,000 shares are outstanding, and 100,000 shares are being held as treasury stock. The firm wishes to raise $48,888,888 for a plant expansion. Discussions with its investment bankers indicate that the sale of new common stock will net the firm $60 per share.a.