$1209.04 $1221.00 Question 3 There are 200 million authorized common shares of Morgus, Inc. In the company's IPO 7 years ago, 50 million were sold to investors at $30 per share. Then a few years ago, in a seasoned offering, another 10 million were sold to investors at $50. Since then the company has bought back 4 million shares. Today the market price is $48. Which is used to determine the company's market capitalization? 50 million $48 46 million $48 64 million $40 56 million $48 (50 million $30)+(10 million x$50)