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A corporate charter specifies that the company may sell up to 36 million shares of stock. The company sells 28 million shares to investors and later buys back 11.0 million shares. The current number of outstanding shares after these transactions have been accounted for is: a. 18.0 million shares. b. 36.0 million shares. c. 17.0 million shares. d. 8.0 million shares.

Respuesta :

Answer:

c. 17.0 million shares

Explanation:

The computation of the current number of outstanding shares after these transactions are shown below:

= Number of shares sold to the investors - buy-back of shares

= $28 million - $11 million

= $17 million

We simply deduct the buy-back shares from the total number of shares sold to the investors

All other information which is given is not relevant. Hence, ignored it

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