A Company Needs $3,000,000 for Expansion

Multiple Choice

A company needs $3,000,000 for expansion. They decide to raise the capital by issuing new shares. How many shares does the company need to sell to raise the amount, if the last share issue was at a price of $1 each and the current market price for the company's shares is $1.50 per share?

A) 500,000 shares
B) 100,000 shares.
C) 1 million shares.
D) 2 million shares.