Crane Limited purchased 50,000 call options during the year. The options give the company the right to buy its own common shares for $8 each. The average market price during the year was $10 per share. Assume that Crane also wrote put options that allow the holder to sell 50,000 of Cranes shares to Crane at $11 per share. QUESTION:

Calculate the incremental shares outstanding for Crane Limited. (Round answer to 0 decimal places, e.g. 5,275.)

Incremental shares outstanding

: ________ Shares