1. The charter of a corporation authorizes the corporation to issue 650,000 shares of common stock and 80,000 shares of preferred stock. Assume that 475,000 common shares were originally issued and 210,000 common shares were re-purchased as treasury stock on 4/1/16. On 5/30/16, half of the treasury stock was sold back onto the market. Then, on 5/1/16 2% preferred stock dividend was declared and was paid on 6/1/16. No other stock transactions occurred during 2016. What is the number of common shares outstanding as of 12/31/2016