1. The following figures represent the equity situation of Dewey Cheatum & Howe, well-known producer of Miracle Curea guaranteed tonic for whatever ails you!

Authorized shares 12,000,000,000

Shares issued 5,500,000,000

Shares outstanding 4,500,000,000

Float 4,250,000,000

1a.If shares of Miracle Cure are selling for $15/share, what is the firm's market capitalization? Please give formula, show work and your calculation.

1b.How many shares must be in the treasury stock. Please give formula, show work and your calculation.