At the beginning of its fiscal year, Phalanx Inc. has 750 shares authorized, 492 shares issued, and 101 shares of treasury stock. Three months later, employees of Phalanx purchased 27 shares from the company through an employee stock purchase plan at a 20% discount to the market price of the stock. Phalanx then repurchased 32 shares into treasury stock. How many shares were outstanding after the employee share purchases and the repurchase of shares into treasury stock?

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