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The charter of a corporation provides for the issuance of 107,000 shares of common stock. Assume that 50,000 shares were originally issued and 11,500 were subsequently reacquired. What is the number of shares outstanding?

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Tundexi

Answer:

The number of shares outstanding is 38,500

Explanation:

Issued shares                   50,000

Less:treasury stock         -11,500

Shares outstanding        38,500

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