Answer: 27. A corporate charter specifies that the company may issue up to 20 million shares of stoc company sells 12 million shares to investors and later buys back 3 million shares. The current number of shares of treasury stock after these transactions have been accounted for A) 3 million shares B) 8 million shares. C)9 million shares. D) 17 million shares. Answer. Answer: 27. A corporate charter specifies that the company may issue up to 20 million shares of stoc company sells 12 million shares to investors and later buys back 3 million shares. The current number of shares of treasury stock after these transactions have been accounted for A) 3 million shares B) 8 million shares. C)9 million shares. D) 17 million shares