Below is an excerpt from Commonwealth Banks annual report for the year 1 July 2019 to 30 June 2020.

Assuming that the book value of equity was $4 billion as at 30 June 2020, estimate the number of shares at this time. The number of shares at 30 June 2020 was:

Select one:

a. 0.099897131 billion

b. 0.412075666 billion

c. 1.699812121 billion

d. 9.41626271 billion

e. 38.84208368 billion

Total shareholder return (%) Return on equity Cash, continuing operations (%) Earnings per share Cash, continuing operations (cents) 151 13.1 12.1 10.3 491.5 465.5 412.5 54 8 (11) (32) (24) FY18 FY19 FY20 FY18 FY19 FY20 1yr syr 10yr CBA Peer average (ex. CBA) Total shareholder return (TSR) combines both share price appreciation and dividends paid. It shows the total return to shareholders over time. Return on Equity (ROE) measures the Bank's profitability. It represents the net profit generated as a percentage of the equity shareholders have invested. Earnings per share (EPS) measures the Bank's earnings growth. It is calculated by dividing net profit after tax by the number of shares on issue