21. Warrants exercisable at $22 each to obtain 80,000 shares of common stock were outstanding during a period when the average market price of the common stock was $25. Application of the treasury stock method for the assumed exercise of these warrants in computing diluted earnings per share will increase the weighted average number of outstanding shares by a. 8,400. b. 9,600. 16,800. I d. 20,000 C