Harvey Corporation shows the following in the stockholders’ equity section of its balance sheet: The par value of its common stock is $0.50 and the total balance in the common stock account is $37,500. Also noted is that 5,000 shares are currently designated as treasury stock. The number of shares outstanding is:

a. 80,000.

b. 75,000.

c. 72,500.

d. 70,000.