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A companys financial year runs from January to December. The following is a series of events concerning the companys stock: 1 January the company had
A companys financial year runs from January to December. The following is a series of events concerning the companys stock:
1 January the company had 10,000,000 shares outstanding
1 April the company issued a 10% stock dividend
31 August 2,400,000 new shares were issued
1 December 30% of the shares in existence at this time were bought back
Estimate the number of shares that should be used to calculate basic earnings per share.
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