Question
BIG Corp has authorized share capital of 50 million shares. In its initial public offering (IPO) several years ago, BIG Corp sold 20 million shares.
BIG Corp has authorized share capital of 50 million shares. In its initial public offering (IPO) several years ago, BIG Corp sold 20 million shares. A private pension plan purchased 8 million shares of the IPO which it still holds. Recently market conditions were favourable and BIG Corp bought back 5 million shares. How many shares are outstanding?
7 million
50 million
15 million
20 million
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Foundations of Financial Management
Authors: Stanley Block, Geoffrey Hirt, Bartley Danielsen, Doug Short, Michael Perretta
10th Canadian edition
978-1259024979
