A company has 100,000,000 shares outstanding. Most of the shares are held by retail shareholders in small holdings. Assume this shareholder base structure: (1) 1 million shareholders each own 20 shares of stock; (2) 1 million shareholders each own 30 shares of stock; (3) 1 million shareholders each own 50 shares. To reduce the number of shares outstanding, the company engages in a 1-for-8 reverse stock split. Anv shares unable to be converted into a whole share are cashed out. Answer these two questions: (1) At the end of the reverse stock split, what is the new number of shares outstanding? (2) What is the total number of pre-split (before the reverse stock split) shares that were cashed out? A. 20 million new shares outstanding, and 14 million shares cashed out B. 12 million new shares outstanding, and 11 million shares cashed out C 11 million new shares outstanding, and 12 million shares cashed out D. 12 million new shares outstanding, and 13 million shares cashed out E. 11 million new shares outstanding, and 10 million shares cashed out